Workhorse Group Inc. [NASDAQ: WKHS] gained 6.46% on the last trading session, reaching $6.43 price per share at the time. The company report on September 30, 2021 that Workhorse Group Announces Executive Leadership Appointments.
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, announced executive leadership appointments to support its go-forward operating and commercial plans.
“Building an experienced leadership team with deep expertise is of paramount importance as we execute on our plans to transition from an advanced technology start-up to an efficient manufacturing company,” said Workhorse CEO Rick Dauch. “I am excited to work closely with these proven industry leaders in their new positions. Each will play a critical role in driving our ongoing review of the business, developing our go-forward plans and enabling us to become a leading manufacturer of electric-powered last-mile delivery vehicles.”.
Workhorse Group Inc. represents 123.41 million in outstanding shares, while the company has a total market value of $833.65 million with the latest information. WKHS stock price has been found in the range of $6.04 to $6.45.
If compared to the average trading volume of 7.74M shares, WKHS reached a trading volume of 11241996 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Workhorse Group Inc. [WKHS]:
DA Davidson have made an estimate for Workhorse Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 11, 2021. The new note on the price target was released on June 04, 2021, representing the official price target for Workhorse Group Inc. stock. Previously, the target price had yet another raise to $20, while B. Riley Securities analysts kept a Buy rating on WKHS stock.
The Average True Range (ATR) for Workhorse Group Inc. is set at 0.47, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 287.47. The Price to Book ratio for the last quarter was 3.55, with the Price to Cash per share for the same quarter was set at 2.61.
Trading performance analysis for WKHS stock
Workhorse Group Inc. [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.81. With this latest performance, WKHS shares dropped by -26.09% in over the last four-week period, additionally sinking by -48.93% over the last 6 months – not to mention a drop of -75.81% 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 32.88, with the RSI for the last a single of trading hit 33.52, and the three-weeks RSI is set at 33.98 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 8.64, while it was recorded at 6.23 for the last single week of trading, and 15.10 for the last 200 days.
Workhorse Group Inc. [WKHS]: A deeper dive into fundamental analysis
Workhorse Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 21.60 and a Current Ratio set at 24.50.
An analysis of insider ownership at Workhorse Group Inc. [WKHS]
There are presently around $309 million, or 40.00% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 8,681,728, which is approximately 16.503% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 5,514,304 shares of the stock with an approximate value of $35.46 million in WKHS stocks shares; and FIRST TRUST ADVISORS LP, currently with $22.3 million in WKHS stock with ownership of nearly 76.718% of the company’s market capitalization.
117 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 12,616,362 shares. Additionally, 123 investors decreased positions by around 20,659,781 shares, while 59 investors held positions by with 14,749,086 shares. The mentioned changes placed institutional holdings at 48,025,229 shares, according to the latest SEC report filing. WKHS stock had 42 new institutional investments in for a total of 3,271,537 shares, while 59 institutional investors sold positions of 8,170,702 shares during the same period.