ROTH Capital slashes price target on Workhorse Group Inc [WKHS] – find out why.

Workhorse Group Inc [NASDAQ: WKHS] loss -3.11% or -0.02 points to close at $0.41 with a heavy trading volume of 5702178 shares. The company report on November 3, 2023 at 8:30 AM that Workhorse Group Reschedules Third Quarter 2023 Earnings Call to Tuesday, November 14, 2023 at 8:00 a.m. ET.

Workhorse management will host a presentation, followed by a question-and-answer period.

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It opened the trading session at $0.44, the shares rose to $0.4455 and dropped to $0.41, the range by which the price of stock traded the whole day. The daily chart for WKHS points out that the company has recorded -60.19% loss over the past six months. However, it is still -7.89% lower than its most recent low trading price.

If we look at the average trading volume of 10.24M shares, WKHS reached to a volume of 5702178 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 $2.00 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 2.33. 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.

The Average True Range (ATR) for Workhorse Group Inc is set at 0.04, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 8.19. The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 0.30.

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 -1.43. With this latest performance, WKHS shares gained by 1.42% in over the last four-week period, additionally sinking by -60.19% over the last 6 months – not to mention a drop of -84.08% 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 42.47, with the RSI for the last a single of trading hit 46.08, and the three-weeks RSI is set at 40.02 for Workhorse Group Inc [WKHS]. The present Moving Average for the last 50 days of trading for this stock 0.5036, while it was recorded at 0.4164 for the last single week of trading, and 1.0722 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 Total Capital for WKHS is now -68.25, given the latest momentum, and Return on Invested Capital for the company is -73.75. Return on Equity for this stock declined to -82.80, with Return on Assets sitting at -57.08. When it comes to the capital structure of this company, Workhorse Group Inc [WKHS] has a Total Debt to Total Equity ratio set at 9.32. Additionally, WKHS Total Debt to Total Capital is recorded at 8.53, with Total Debt to Total Assets ending up at 5.54. Long-Term Debt to Equity for the company is recorded at 8.14, with the Long-Term Debt to Total Capital now at 7.45.

Reflecting on the efficiency of the workforce at the company, Workhorse Group Inc [WKHS] managed to generate an average of -$354,303 per employee. Receivables Turnover for the company is 0.58 with a Total Asset Turnover recorded at a value of 0.02.Workhorse Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.54 and a Current Ratio set at 2.14.

An analysis of Institutional ownership at Workhorse Group Inc [WKHS]

The top three institutional holders of WKHS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in WKHS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in WKHS stock with ownership which is approximately 5.7994%.