In the last trading session, 4.64 million shares of the Workhorse Group Inc. (NASDAQ:WKHS) were traded, and its beta was 2.71. Most recently the company’s share price was $8.19, and it changed around -$0.37 or -4.32% from the last close, which brings the market valuation of the company to $980.75M. WKHS currently trades at a discount to its 52-week high of $42.96, offering almost -424.54% off that amount. The share price’s 52-week low was $7.07, which indicates that the current value has risen by an impressive 13.68% since then. We note from Workhorse Group Inc.’s average daily trading volume that its 10-day average is 5.25 million shares, with the 3-month average coming to 9.87 million.
Workhorse Group Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.60. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 4 recommended WKHS as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Workhorse Group Inc. is expected to report earnings per share of -$0.35 for the current quarter.
Workhorse Group Inc. (NASDAQ:WKHS) trade information
Instantly WKHS has showed a red trend with a performance of -4.32% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 8.82 on Monday, 09/20/21 increased the stock’s daily price by 7.14%. The company’s shares are currently down -58.59% year-to-date, but still down -5.86% over the last five days. On the other hand, Workhorse Group Inc. (NASDAQ:WKHS) is -5.86% down in the 30-day period. We can see from the shorts that 43.63 million shares have been sold at a short interest cover period of 5.69 day(s).
The consensus price target as assigned by Wall Street analysts is $10.83, which translates to bulls needing to increase their stock price by 24.38% from its current value. Analyst projections state that WKHS is forecast to be at a low of $6.00 and a high of $18.00. In order for the stock price to hit the forecast high, the stock would need to plunge -119.78% from its current level, while the stock would need to crash 26.74% from its current level to reach the projected low.
Workhorse Group Inc. (WKHS) estimates and forecasts
Workhorse Group Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -47.60 percent over the past six months and at a -347.14% annual growth rate that is well below the industry average of 30.00%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 55.10% in revenue this quarter, and will report a decrease of -103.40% in the next quarter. The year-over-year growth rate is expected to be 952.40%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $4.78 million in revenue for the current quarter. 7 analysts expect Workhorse Group Inc. to make $8.18 million in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $1.81 million and $652k respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 164.10%. Forecasts for the next quarter put sales growth at 1,154.60%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 26.80%.
Workhorse Group Inc.’s next quarterly earnings report is expected to be released on May 10.
Workhorse Group Inc. (NASDAQ:WKHS)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 8.48% of Workhorse Group Inc. shares, and 40.03% of them are in the hands of institutional investors. The stock currently has a share float of 43.74%. Workhorse Group Inc. stock is held by 310 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2021, it held 7.00% of the shares, which is about 8.68 million shares worth $144.03 million.
Vanguard Group, Inc. (The), with 4.45% or 5.51 million shares worth $91.48 million as of Jun 29, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2021. The former held 3.13 million shares worth $51.94 million, making up 2.53% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.83 million shares worth around $47.0 million, which represents about 2.29% of the total shares outstanding.