Workhorse Group Inc. [WKHS] stock Downgrade by ROTH Capital analyst, price target now $3.50

Workhorse Group Inc. [NASDAQ: WKHS] stock went on a downward path that fall over -4.30% on Wednesday, amounting to a one-week price increase of more than 0.75%. The company report on November 8, 2022 that Workhorse Group Reports Third Quarter 2022 Results.


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Over the last 12 months, WKHS stock dropped by -59.79%. The one-year Workhorse Group Inc. stock forecast points to a potential upside of 54.2. The average equity rating for WKHS stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $435.58 million, with 159.11 million shares outstanding and 157.39 million shares in the current float. Compared to the average trading volume of 3.26M shares, WKHS stock reached a trading volume of 3505484 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 $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 2.40. 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 0.21 The Price to Book ratio for the last quarter was 2.59.

WKHS Stock Performance Analysis:

Workhorse Group Inc. [WKHS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.75. With this latest performance, WKHS shares gained by 11.25% in over the last four-week period, additionally plugging by 15.09% over the last 6 months – not to mention a drop of -59.79% 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 50.46, with the RSI for the last a single of trading hit 52.12, and the three-weeks RSI is set at 48.75 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 2.75, while it was recorded at 2.71 for the last single week of trading, and 3.21 for the last 200 days.

Insight into Workhorse Group Inc. 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 Position Details

There are presently around $142 million, or 33.50% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 10,076,664, which is approximately -0.566% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 8,017,751 shares of the stock with an approximate value of $21.41 million in WKHS stocks shares; and STATE STREET CORP, currently with $18.24 million in WKHS stock with ownership of nearly 89.108% of the company’s market capitalization.

83 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 8,838,275 shares. Additionally, 95 investors decreased positions by around 5,873,813 shares, while 65 investors held positions by with 38,450,442 shares. The mentioned changes placed institutional holdings at 53,162,530 shares, according to the latest SEC report filing. WKHS stock had 28 new institutional investments in for a total of 2,640,694 shares, while 33 institutional investors sold positions of 966,400 shares during the same period.

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