In the latest trading session, 1.23 million Workhorse Group Inc (NASDAQ:WKHS) shares changed hands as the company’s beta touched 2.81. With the company’s most recent per share price at $0.39 changing hands around $0.02 or 2.86% at last look, the market valuation stands at $100.48M. WKHS’s current price is a discount, trading about -566.67% off its 52-week high of $2.60. The share price had its 52-week low at $0.36, which suggests the last value was 7.69% up since then. When we look at Workhorse Group Inc’s average trading volume, we note the 10-day average is 6.03 million shares, with the 3-month average coming to 9.91 million.
Analysts gave the Workhorse Group Inc (WKHS) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended WKHS as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Workhorse Group Inc’s EPS for the current quarter is expected to be -$0.09.
Workhorse Group Inc (NASDAQ:WKHS) trade information
Instantly WKHS is in green as seen in intraday trades today. With action -3.70%, the performance over the past five days has been red. The jump to weekly highs of 0.4240 on Friday, 11/17/23 added 2.86% to the stock’s daily price. The company’s shares are showing year-to-date downside of -74.66%, with the 5-day performance at -3.70% in the red. However, in the 30-day time frame, Workhorse Group Inc (NASDAQ:WKHS) is -4.68% down. Looking at the short shares, we see there were 51.27 million shares sold at short interest cover period of 7.56 days.
The consensus price target for the stock as assigned by Wall Street analysts is $0.88, meaning bulls need an upside of 55.68% from its recent market value. According to analyst projections, WKHS’s forecast low is $0.50 with $1.00 as the target high. To hit the forecast high, the stock’s price needs a -156.41% plunge from its current level, while the stock would need to soar -28.21% for it to hit the projected low.
Workhorse Group Inc (WKHS) estimates and forecasts
Data shows that the Workhorse Group Inc share is 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 shot -58.25% over the past 6 months, a 36.49% in annual growth rate that is considerably higher than the industry average of 20.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Workhorse Group Inc will rise 62.50%, while the growth in revenue is estimated to hit 46.70% for the next quarter. Year-over-year growth is forecast to reach 728.80% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $26.88 million. 3 analysts are of the opinion that Workhorse Group Inc’s revenue for the quarter ending Mar 2024 will be $43.67 million. The company’s revenue for the corresponding quarters a year ago was $3.45 million and $1.69 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 679.80%. The estimates for the next quarter sales put growth at 2,479.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 7.01%. The 2023 estimates are for Workhorse Group Inc earnings to increase by 35.14%.
Workhorse Group Inc is expected to release its next quarterly earnings report on November 14.
Workhorse Group Inc (NASDAQ:WKHS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.35% of Workhorse Group Inc shares while 33.19% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 34.69%. There are 33.19% institutions holding the Workhorse Group Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 5.76% of the shares, roughly 12.15 million WKHS shares worth $10.59 million.
State Street Corporation holds the second largest percentage of outstanding shares, with 4.39% or 9.26 million shares worth $8.07 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF and Vanguard Total Stock Market Index Fund. With 4.93 million shares estimated at $3.88 million under it, the former controlled 2.34% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.28% of the shares, roughly 4.8 million shares worth around $4.19 million.