R. F. Lafferty lifts Workhorse Group Inc. [WKHS] price estimate. Who else is bullish?

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Workhorse Group Inc. [NASDAQ: WKHS] gained 4.33% on the last trading session, reaching $2.65 price per share at the time. The company report on May 10, 2022 that Amerit and Workhorse Announce Purchase Order for 10 All Electric EVolution Mobile Service Centers.

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Amerit Fleet Solutions, a provider of customized fleet maintenance and repair programs nationwide, and 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 today that they have finalized a purchase order for 10 battery electric vehicles to add to Amerit’s fleet of EVolution Mobile Service Centers throughout California.

Fully electric and zero emissions, the EVolution Mobile Service Center (MSC) enables Amerit technicians to provide maintenance and repairs for electric vehicles, charging hardware and ICE vehicles side by side. The EVolution’s battery power is designed to support a full workday, powering all tools and equipment, and safely return the technician home at the end of the day.

Workhorse Group Inc. represents 145.15 million in outstanding shares, while the company has a total market value of $431.76 million with the latest information. WKHS stock price has been found in the range of $2.46 to $2.7301.

If compared to the average trading volume of 5.65M shares, WKHS reached a trading volume of 6476433 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WKHS shares is $6.64 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 2.50. 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.

R. F. Lafferty have made an estimate for Workhorse Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 03, 2022. The new note on the price target was released on March 02, 2022, representing the official price target for Workhorse Group Inc. stock. Previously, the target price had yet another raise to $4, while R. F. Lafferty analysts kept a Hold rating on WKHS stock.

The Average True Range (ATR) for Workhorse Group Inc. is set at 0.31, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 240.02. The Price to Book ratio for the last quarter was 2.21.

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 -16.93. With this latest performance, WKHS shares dropped by -32.91% in over the last four-week period, additionally sinking by -61.54% over the last 6 months – not to mention a drop of -67.84% 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 33.57, with the RSI for the last a single of trading hit 30.25, and the three-weeks RSI is set at 36.87 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 3.78, while it was recorded at 2.87 for the last single week of trading, and 5.74 for the last 200 days.

Workhorse Group Inc. [WKHS]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -140.85, with Return on Assets sitting at -93.26.

Workhorse Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.50 and a Current Ratio set at 7.80.

An analysis of insider ownership at Workhorse Group Inc. [WKHS]

There are presently around $133 million, or 36.10% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 8,653,590, which is approximately 1.433% of the company’s market cap and around 2.90% of the total institutional ownership; VANGUARD GROUP INC, holding 6,633,630 shares of the stock with an approximate value of $16.85 million in WKHS stocks shares; and FIRST TRUST ADVISORS LP, currently with $13.14 million in WKHS stock with ownership of nearly 65.989% of the company’s market capitalization.

Positions in Workhorse Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 100 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 9,766,796 shares. Additionally, 103 investors decreased positions by around 4,358,620 shares, while 68 investors held positions by with 38,241,194 shares. The mentioned changes placed institutional holdings at 52,366,610 shares, according to the latest SEC report filing. WKHS stock had 30 new institutional investments in for a total of 1,898,209 shares, while 49 institutional investors sold positions of 1,527,084 shares during the same period.