Workhorse Group Inc. [WKHS] Is Currently 0.36 below its 200 Period Moving Avg: What Does This Mean?


Workhorse Group Inc. [NASDAQ: WKHS] traded at a high on 07/12/22, posting a 0.36 gain after which it closed the day’ session at $2.75. 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.

The results of the trading session contributed to over 3573705 shares changing hands. Over the past one week, the price volatility of Workhorse Group Inc. stands at 6.65% while the volatility over the past one month is 8.00%.

The market cap for WKHS stock reached $441.90 million, with 151.94 million shares outstanding and 135.25 million shares in the current float. Compared to the average trading volume of 4.80M shares, WKHS reached a trading volume of 3573705 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $6.33 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 2.30. 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 0.23 The Price to Book ratio for the last quarter was 2.67.

How has WKHS stock performed recently?

Workhorse Group Inc. [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.36. With this latest performance, WKHS shares dropped by -6.46% in over the last four-week period, additionally sinking by -33.09% over the last 6 months – not to mention a drop of -78.50% 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 46.70, with the RSI for the last a single of trading hit 46.16, and the three-weeks RSI is set at 46.66 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 2.85, while it was recorded at 2.80 for the last single week of trading, and 4.35 for the last 200 days.

Workhorse Group Inc. [WKHS]: Deeper insight into the fundamentals

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 8.20 and a Current Ratio set at 8.80.

Insider trade positions for Workhorse Group Inc. [WKHS]

There are presently around $142 million, or 32.50% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 10,133,985, which is approximately 17.107% of the company’s market cap and around 2.70% of the total institutional ownership; VANGUARD GROUP INC, holding 6,984,510 shares of the stock with an approximate value of $19.14 million in WKHS stocks shares; and INVESCO LTD., currently with $11.41 million in WKHS stock with ownership of nearly 0.75% of the company’s market capitalization.

102 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 9,074,092 shares. Additionally, 101 investors decreased positions by around 10,020,128 shares, while 64 investors held positions by with 32,610,346 shares. The mentioned changes placed institutional holdings at 51,704,566 shares, according to the latest SEC report filing. WKHS stock had 31 new institutional investments in for a total of 2,935,302 shares, while 49 institutional investors sold positions of 2,161,990 shares during the same period.