Workhorse Group Inc [WKHS] Is Currently -6.41 below its 200 Period Moving Avg: What Does This Mean?

Workhorse Group Inc [NASDAQ: WKHS] loss -6.41% or -0.02 points to close at $0.28 with a heavy trading volume of 4914922 shares. The company report on January 11, 2024 at 8:30 AM that Workhorse Group Receives Second Fleet Order for W56 Step Van.

The W56 provides a unique blend of high reliability, quality and serviceability. The zero-emission delivery work van is designed to meet the challenging demands of the commercial vehicle industry, supporting benchmark payload capacity of up to approximately 10,000 pounds and with a range of up to 150 miles. The W56 step van also offers a large 1,000+ cubic foot cargo box with lowered step-in and wide cabin door for easier entry and exit. Built with the delivery driver in mind, the cabin has been ergonomically designed while still providing safety and comfort during even the longest shifts.

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The daily chart for WKHS points out that the company has recorded -74.60% loss over the past six months.

If we look at the average trading volume of 6.86M shares, WKHS reached to a volume of 4914922 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 $0.77 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 3.00. 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 0.02, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 6.11. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 0.15.

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 -10.53. With this latest performance, WKHS shares dropped by -24.13% in over the last four-week period, additionally sinking by -74.60% over the last 6 months – not to mention a drop of -86.89% 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 33.29, with the RSI for the last a single of trading hit 31.43, and the three-weeks RSI is set at 35.24 for Workhorse Group Inc [WKHS]. The present Moving Average for the last 50 days of trading for this stock 0.3634, while it was recorded at 0.2957 for the last single week of trading, and 0.6959 for the last 200 days.

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

Workhorse Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 3.78.

Workhorse Group Inc [WKHS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Workhorse Group Inc posted -0.24/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -33.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WKHS.

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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WKHS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WKHS stock with ownership which is approximately 5.8325%.