Workhorse Group Inc. [NASDAQ: WKHS] stock went on a downward path that fall over -4.37% on Tuesday, amounting to a one-week price decrease of less than -2.72%. The company report on July 29, 2021 that Workhorse Group Sets Second Quarter 2021 Earnings Call for Monday, August 9, 2021 at 10:00 a.m. ET.
Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse” or “the Company”), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last mile delivery sector, will hold a conference call on Monday, August 9 at 10:00 a.m. Eastern time (7:00 a.m. Pacific time) to discuss its financial results for the second quarter ended June 30, 2021. Financial results will be issued in a press release prior to the call.
Workhorse management will host the presentation, followed by a question and answer period.
Over the last 12 months, WKHS stock dropped by -44.16%. The one-year Workhorse Group Inc. stock forecast points to a potential upside of 15.67. The average equity rating for WKHS stock is currently 2.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.34 billion, with 122.63 million shares outstanding and 112.78 million shares in the current float. Compared to the average trading volume of 18.68M shares, WKHS stock reached a trading volume of 7379710 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Workhorse Group Inc. [WKHS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WKHS shares is $12.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WKHS stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cowen have made an estimate for Workhorse Group Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on June 04, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on April 16, 2021, representing the official price target for Workhorse Group Inc. stock.
The Average True Range (ATR) for Workhorse Group Inc. is set at 0.95, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 746.13. The Price to Book ratio for the last quarter was 4.76, with the Price to Cash per share for the same quarter was set at 3.18.
WKHS Stock Performance Analysis:
Workhorse Group Inc. [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.72. With this latest performance, WKHS shares dropped by -24.42% in over the last four-week period, additionally sinking by -68.69% over the last 6 months – not to mention a drop of -44.16% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WKHS stock in for the last two-week period is set at 38.63, with the RSI for the last a single of trading hit 35.12, and the three-weeks RSI is set at 41.60 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 12.95, while it was recorded at 11.30 for the last single week of trading, and 18.17 for the last 200 days.
Insight into Workhorse Group Inc. Fundamentals:
Workhorse Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 24.90 and a Current Ratio set at 26.60.
Workhorse Group Inc. [WKHS] Insider Position Details
There are presently around $530 million, or 42.40% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 7,451,966, which is approximately 5% of the company’s market cap and around 1.70% of the total institutional ownership; VANGUARD GROUP INC, holding 5,291,143 shares of the stock with an approximate value of $56.67 million in WKHS stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $42.83 million in WKHS stock with ownership of nearly 116.393% of the company’s market capitalization.
134 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 12,846,900 shares. Additionally, 117 investors decreased positions by around 18,363,274 shares, while 44 investors held positions by with 18,271,961 shares. The mentioned changes placed institutional holdings at 49,482,135 shares, according to the latest SEC report filing. WKHS stock had 49 new institutional investments in for a total of 2,907,948 shares, while 47 institutional investors sold positions of 4,612,833 shares during the same period.