Workhorse Group Inc. [WKHS] Is Currently -5.48 below its 200 Period Moving Avg: What Does This Mean?

Workhorse Group Inc. [NASDAQ: WKHS] loss -5.48% or -0.08 points to close at $1.38 with a heavy trading volume of 6236265 shares. The company report on March 9, 2023 that Workhorse Group to Participate in the 35th Annual ROTH Conference from March 12-14, 2023.

Workhorse management will be holding one-on-one meetings with institutional investors and analysts throughout the conference.

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It opened the trading session at $1.46, the shares rose to $1.47 and dropped to $1.36, the range by which the price of stock traded the whole day. The daily chart for WKHS points out that the company has recorded -54.61% loss over the past six months. However, it is still 1.43% higher than its most recent low trading price.

If we look at the average trading volume of 3.27M shares, WKHS reached to a volume of 6236265 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 $3.50 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 0.13, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 48.55. The Price to Book ratio for the last quarter was 2.06.

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 -10.97. With this latest performance, WKHS shares dropped by -36.11% in over the last four-week period, additionally sinking by -54.61% over the last 6 months – not to mention a drop of -67.06% 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 28.51, with the RSI for the last a single of trading hit 20.80, and the three-weeks RSI is set at 33.67 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 1.9486, while it was recorded at 1.4880 for the last single week of trading, and 2.5617 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Workhorse Group Inc. [WKHS] shares currently have an operating margin of -2171.64 and a Gross Margin at -649.99. Workhorse Group Inc.’s Net Margin is presently recorded at -2334.71.

Return on Equity for this stock declined to -82.80, with Return on Assets sitting at -57.08.

Workhorse Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.20.

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

There are presently around $80 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 11,538,946, which is approximately 11.409% of the company’s market cap and around 1.80% of the total institutional ownership; VANGUARD GROUP INC, holding 8,857,480 shares of the stock with an approximate value of $12.22 million in WKHS stocks shares; and STATE STREET CORP, currently with $10.75 million in WKHS stock with ownership of nearly 10.15% of the company’s market capitalization.

Positions in Workhorse Group Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 98 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 9,716,016 shares. Additionally, 85 investors decreased positions by around 5,299,085 shares, while 62 investors held positions by with 43,172,730 shares. The mentioned changes placed institutional holdings at 58,187,831 shares, according to the latest SEC report filing. WKHS stock had 38 new institutional investments in for a total of 2,810,738 shares, while 34 institutional investors sold positions of 2,160,945 shares during the same period.


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