Workhorse Group Inc. [WKHS] moved down -3.09: Why It’s Important

Workhorse Group Inc. [NASDAQ: WKHS] closed the trading session at $2.82 on 09/22/22. The day’s price range saw the stock hit a low of $2.77, while the highest price level was $2.93. The company report on August 9, 2022 that Workhorse Group Reports Second Quarter 2022 Results.

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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, today reported financial results for the second quarter ended June 30, 2022.

The stocks have a year to date performance of -35.32 percent and weekly performance of -13.76 percent. The stock has been moved at -36.49 percent over the last six months. The stock has performed -11.88 percent around the most recent 30 days and changed -11.04 percent over the most recent 3-months.

If compared to the average trading volume of 4.05M shares, WKHS reached to a volume of 2641039 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $5.83 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.

ROTH Capital have made an estimate for Workhorse Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 09, 2022. While these analysts kept the previous recommendation, R. F. Lafferty raised their target price from $4 to $6. The new note on the price target was released on March 03, 2022, representing the official price target for Workhorse Group Inc. stock. Previously, the target price had yet another raise to $7, while ROTH Capital analysts kept a Buy rating on WKHS stock.

The Average True Range (ATR) for Workhorse Group Inc. is set at 0.20 The Price to Book ratio for the last quarter was 2.74.

WKHS stock trade performance evaluation

Workhorse Group Inc. [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.76. With this latest performance, WKHS shares dropped by -11.88% in over the last four-week period, additionally sinking by -36.49% over the last 6 months – not to mention a drop of -61.94% 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 38.12, with the RSI for the last a single of trading hit 32.14, and the three-weeks RSI is set at 41.94 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 3.37, while it was recorded at 2.95 for the last single week of trading, and 3.52 for the last 200 days.

Workhorse Group Inc. [WKHS]: An insightful look at the core 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 8.60 and a Current Ratio set at 9.30.

Workhorse Group Inc. [WKHS]: Insider Ownership positions

There are presently around $153 million, or 34.10% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 10,076,664, which is approximately -0.566% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 8,017,751 shares of the stock with an approximate value of $22.61 million in WKHS stocks shares; and STATE STREET CORP, currently with $19.26 million in WKHS stock with ownership of nearly 89.108% of the company’s market capitalization.

Positions in Workhorse Group Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 81 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 8,948,546 shares. Additionally, 102 investors decreased positions by around 6,408,430 shares, while 67 investors held positions by with 38,990,860 shares. The mentioned changes placed institutional holdings at 54,347,836 shares, according to the latest SEC report filing. WKHS stock had 27 new institutional investments in for a total of 2,472,587 shares, while 37 institutional investors sold positions of 1,018,498 shares during the same period.


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