Workhorse Group Inc [WKHS] moved down -3.77: Why It’s Important

Workhorse Group Inc [NASDAQ: WKHS] stock went on a downward path that fall over -3.77% on Tuesday, amounting to a one-week price decrease of less than -6.81%. The company report on January 29, 2024 at 8:30 AM that Workhorse Group Names W.W. Williams as a Service Provider for Electric Vehicles.

“As we continue to expand and develop our top-tier aftersales support structure, we are excited to partner with Williams to further strengthen the service offerings available to our growing customer base,” said Scott Loomis, Vice President, Quality and Aftersales Support for Workhorse. “Williams provides Workhorse customers an expanded network of reliable service for our entire fleet of electric vehicles – benefiting from their over 100 years of dedicated service, depth of experience, and support offerings.”.

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Over the last 12 months, WKHS stock dropped by -87.30%. The one-year Workhorse Group Inc stock forecast points to a potential upside of 63.64. The average equity rating for WKHS stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $73.91 million, with 260.89 million shares outstanding and 252.86 million shares in the current float. Compared to the average trading volume of 6.86M shares, WKHS stock reached a trading volume of 3902400 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 $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 6.09. 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.

WKHS Stock Performance Analysis:

Workhorse Group Inc [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.81. With this latest performance, WKHS shares dropped by -23.43% in over the last four-week period, additionally sinking by -78.70% over the last 6 months – not to mention a drop of -87.30% 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 35.41, with the RSI for the last a single of trading hit 34.90, and the three-weeks RSI is set at 36.52 for Workhorse Group Inc [WKHS]. The present Moving Average for the last 50 days of trading for this stock 0.3545, while it was recorded at 0.2862 for the last single week of trading, and 0.6799 for the last 200 days.

Insight into Workhorse Group Inc Fundamentals:

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.

WKHS Stock EPS

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.

Workhorse Group Inc [WKHS] Institutonal Ownership Details

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%.