During the last session, Workhorse Group Inc. (NASDAQ:WKHS)’s traded shares were 5.44 million, with the beta value of the company hitting 2.74. At the end of the trading day, the stock’s price was $0.86, reflecting an intraday loss of -3.87% or -$0.04. The 52-week high for the WKHS share is $4.73, that puts it down -450.0 from that peak though still a striking 4.65% gain since the share price plummeted to a 52-week low of $0.82. The company’s market capitalization is $170.05M, and the average intraday trading volume over the past 10 days was 8.1 million shares, and the average trade volume was 4.80 million shares over the past three months.
Workhorse Group Inc. (WKHS) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. WKHS has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.15.
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Workhorse Group Inc. (NASDAQ:WKHS) trade information
Workhorse Group Inc. (WKHS) registered a -3.87% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.87% in intraday trading to $0.86 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -12.04%, and it has moved by -5.73% in 30 days. Based on these gigs, the overall price performance for the year is -68.79%. The short interest in Workhorse Group Inc. (NASDAQ:WKHS) is 44.6 million shares and it means that shorts have 11.54 day(s) to cover.
The consensus price target of analysts on Wall Street is $2.75, which implies an increase of 68.73% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $5.00 respectively. As a result, WKHS is trading at a discount of -481.4% off the target high and -16.28% off the low.
Workhorse Group Inc. (WKHS) estimates and forecasts
Statistics show that Workhorse Group Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Workhorse Group Inc. (WKHS) shares have gone down -63.19% during the last six months, with a year-to-date growth rate more than the industry average at 24.32% against 15.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -15.40% this quarter and then jump 36.40% in the quarter after that. In the rating firms’ projections, revenue will increase 1,467.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $14.75 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $22.59 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $13k and $2.56 million respectively. In this case, analysts expect current quarter sales to grow by 113,361.50% and then jump by 782.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 7.00%. While earnings are projected to return 76.30% in 2023.
Workhorse Group Inc. is due to release its next quarterly earnings on May 15. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Workhorse Group Inc. (NASDAQ:WKHS)’s Major holders
Workhorse Group Inc. insiders own 4.44% of total outstanding shares while institutional holders control 35.54%, with the float percentage being 37.19%. Blackrock Inc. is the largest shareholder of the company, while 275 institutions own stock in it. As of Mar 30, 2023, the company held over 12.08 million shares (or 6.53% of all shares), a total value of $16.07 million in shares.
The next largest institutional holding, with 9.02 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 4.88% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $12.0 million.
Also, the Mutual Funds coming in first place with the largest holdings of Workhorse Group Inc. (WKHS) shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2023 indicates that Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF owns about 7.76 million shares. This amounts to just over 4.54 percent of the company’s overall shares, with a $10.32 million market value. The same data shows that the other fund manager holds slightly less at 4.8 million, or about 2.81% of the stock, which is worth about $7.3 million.