Workhorse Group Inc. [WKHS] moved down -3.09: Why It’s Important
Workhorse Group Inc. [NASDAQ: WKHS] The trading session closed at $2.82 on 09/22/22. Today’s price range witnessed that the stock recorded a low of $2.77, while a high of $2.93. Company report on August 9, 2022 Workhorse Group announces results for the second quarter of 2022.
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Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), a US technology company focused on providing sustainable, cost-effective, integrated electric vehicles with drones to the last-stage delivery sector, today announced its financial results for the second quarter ended June 30 2022.
The stock has a year-to-date performance of -35.32% and a weekly performance of -13.76%. The stock has moved at -36.49 percent over the past six months. The stock has performed -11.88 percent in the last 30 days and changed -11.04 percent over the last three months.
If compared to an average trading volume of 4.05 million shares, WKHS reached a volume of 2641039 on the last trading day, which is why market watchers consider the stock to be active.
Here’s what leading stock market experts are saying about Workhorse Group Inc. [WKHS]:
Based on careful, fact-backed analysis by Wall Street experts, the current consensus on a target price for WKHS shares is $5.83 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for WKHS stock is a set recommendation at 2.30. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.
ROTH Capital has made an appreciation for the shares of Workhorse Group Inc. , keeping their opinion of the stock as neutral, with their previous recommendation back on August 09, 2022. While these analysts held the previous recommendation, RF Lafferty raised its target price from $4 to $6. The new note about price target was released on March 3, 2022, which is the official target price for Workhorse Group Inc.’s stock. Previously, the target price had another increase to $7, while ROTH Capital analysts maintained a buy rating on WKHS stock.
The Average True Range (ATR) is set for Workhorse Group Inc. At 0.20 the price to book ratio for the fourth quarter was 2.74.
WKHS stock trading performance evaluation
Workhorse Group Inc. [WKHS] It fell into the red at the end of last week, fell in a negative direction and fell by -13.76. With this latest performance, WKHS shares are down -11.88% over the past four-week period, and are also down -36.49% over the past six months – not to mention a -61.94% drop in the last year of trading.
Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for the WKHS stock in the last two week period is set at 38.12, with the RSI for the last one traded at 32.14, and the three-week RSI is set at 41.94 for Workhorse Group Inc. [WKHS]. The current moving average of the last 50 trading days for this stock is 3.37 while it recorded at 2.95 for the last trading week, and 3.52 for the last 200 days.
Workhorse Group Inc. [WKHS]: Insight into the basic fundamentals
The return on equity for this stock fell to -140.85, with the return on assets remaining at -93.26.
Workhorse Group Inc.’s liquidity data is Interesting too, with the quick ratio at 8.60 and the current ratio set at 9.30.
Workhorse Group Inc. [WKHS]: Insiders ownership positions
There are currently approximately $153 million, or 34.10% of WKHS stock, in the hands of institutional investors. The three largest shareholders of WKHS are: BLACKROCK INC. With an ownership of 10,076,664, which is approximately -0.566% of the company’s market capitalization and about 0.90% of the total institutional ownership; VANGUARD GROUP INC, which owns 801,771 shares of stock with an approximate value of $22.61 million in WKHS stock; and STATE STREET CORP, currently with $19.26 million in WKHS stock with ownership of approximately 89.108% of the company’s market capitalization.
Positions in Workhorse Group Inc shares increased. held by institutional investors at the end of August and at the time of the August report, as 81 institutional owners consolidated their positions in Workhorse Group Inc. [NASDAQ:WKHS] About 8,948,546 shares. In addition, 102 investors decreased their positions by 6,408,430 shares, while 67 investors held positions with 38,990,860 shares. The said changes put institutional holdings at 5,4347.836 shares, according to the latest report from the Securities and Exchange Commission. WKHS had 27 new institutional investments totaling 2,472,587 shares, while 37 institutional investors sold positions worth 1,018,498 shares during the same period.