In the last trading session, 10,070,928 Workhorse Group Inc. (NASDAQ:WKHS) shares changed hands as the company’s beta touched 2.62. With the company’s per share price at $14.54 changed hands at -$0.33 or -0.02% during last session, the market valuation stood at $1.85 Billion. WKHS’s last price was a discount, traded about -195.46% off its 52-week high of $42.96. The share price had its 52-week low at $6.57, which suggests the last value was 54.81% up since then. When we look at Workhorse Group Inc.’s average trading volume, we note the 10-day average is 22.89 Million shares, with the 3-month average coming to 18.04 Million.
Analysts gave the Workhorse Group Inc. (WKHS) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2.6. If we narrow down to specifics, the data shows that none out of 6 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 4 recommended WKHS as a Hold, 2 felt it is a Buy and none rated the stock as Underweight. Workhorse Group Inc.’s EPS for the current quarter is expected to be -$0.29.
Workhorse Group Inc. (NASDAQ:WKHS) trade information
Although WKHS has turned red as seen at the end of in last trading. With action -2.22%, the performance over the past five days has been red. The jump to weekly highs of $15.93 on Wednesday, Jun 16 added 8.73% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.26%, with the 5-day performance at -0.03% in the red. However, in the 30-day time frame, Workhorse Group Inc. (NASDAQ:WKHS) is 0.72% up. Looking at the short shares, we see there were 45.59 Million shares sold at short interest cover period of 2.53 days.
The consensus price target for the stock as assigned by Wall Street analysts is $12.7, meaning bulls need a downside of -12.65% from its current market value. According to analyst projections, WKHS’s forecast low is $6 with $20 as the target high. To hit the forecast high, the stock’s price needs a +37.55% upsurge from its current level, while the stock would need to tank -58.73% for it to hit the projected low.
Workhorse Group Inc. (WKHS) estimates and forecasts
Data shows that the Workhorse Group Inc. share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value dive -31.32% over the past 6 months, a -324.29% in annual growth rate that is considerably lower than the industry average of 39.5%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Workhorse Group Inc. will rise +83.5%, while the growth in revenue is estimated to hit 70.5% for the next quarter. Year-over-year growth is forecast to reach 5292% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $6.41 Million. 6 analysts are of the opinion that Workhorse Group Inc.’s revenue for the quarter ending September 01, 2021 will be $21.15 Million. The company’s revenue for the corresponding quarters a year ago was $92Million and $1.81 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 6867.4%. The estimates for the next quarter sales put growth at 1068.5%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 26.8%. The 2021 estimates are for Workhorse Group Inc. earnings to increase by 220.5%, but the outlook for the next 5-year period is at 0% per year.
Workhorse Group Inc. (NASDAQ:WKHS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.58% of Workhorse Group Inc. shares while 45.81% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 50.11%. There are 324 institutions holding the Workhorse Group Inc. stock share, with Blackrock Inc. the top institutional holder. As of Mar 30, 2021, the company held 6.05% of the shares, roughly 7.45 Million WKHS shares worth $102.61 Million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 4.29% or 5.29 Million shares worth $72.86 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF. With 3071645 shares estimated at $42.3 Million under it, the former controlled 2.49% of total outstanding shares. On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF held about 2.06% of the shares, roughly 2.54 Million shares worth around $23.83 Million.