Market Analysts see Workhorse Group Inc [WKHS] falling to $3.50. Time to buy?

Workhorse Group Inc [NASDAQ: WKHS] traded at a high on Thursday, posting a 1.16 gain after which it closed the day’ session at $0.23. The company report on March 27, 2024 at 8:30 AM that Ballard Announces Appointment of Jacqui Dedo to Board of Directors.

Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced the appointment of Ms. Jacqueline (Jacqui) Dedo to the Ballard Board of Directors. Ms. Dedo brings relevant experience to the Board with her background in the transportation industry, including electrified propulsion in heavy-duty mobility, while also bringing complementary competencies related to strategy, innovation, technology, and corporate governance.

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“We strive to have a Board that is comprised of highly qualified directors with diverse and complementary backgrounds, skillsets, and experience, and who demonstrate integrity and suitability for overseeing management in the business and affairs of the company,” said Jim Roche, Ballard’s Chair. “We are pleased to welcome Jacqui to the Ballard Board. Her deep background in the global mobility industry and her experience with innovation and growth in an entrepreneurial environment will be invaluable to Ballard as we focus on continued innovation, market adoption, product cost reduction, and business scaling.”.

The results of the trading session contributed to over 14335191 shares changing hands. Over the past one week, the price volatility of Workhorse Group Inc stands at 8.74% while the volatility over the past one month is 9.18%.

The market cap for WKHS stock reached $73.86 million, with 314.83 million shares outstanding and 290.06 million shares in the current float. Compared to the average trading volume of 9.07M shares, WKHS reached a trading volume of 14335191 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $0.37 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 3.50. 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 0.03, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 5.64. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 0.11.

How has WKHS stock performed recently?

Workhorse Group Inc [WKHS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.77. With this latest performance, WKHS shares dropped by -29.97% in over the last four-week period, additionally sinking by -43.81% over the last 6 months – not to mention a drop of -81.23% 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 41.25, with the RSI for the last a single of trading hit 41.64, and the three-weeks RSI is set at 41.83 for Workhorse Group Inc [WKHS]. The present Moving Average for the last 50 days of trading for this stock 0.2765, while it was recorded at 0.2205 for the last single week of trading, and 0.5416 for the last 200 days.

Workhorse Group Inc [WKHS]: Deeper insight into the fundamentals

Workhorse Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.91 and a Current Ratio set at 1.76.

Earnings analysis for Workhorse Group Inc [WKHS]

With the latest financial reports released by the company, Workhorse Group Inc posted -0.15/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 surpassed the estimates by a Surprise Factor of 16.70%. 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.

Insider trade positions for 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%.