In the last trading session, 20.9 million Workhorse Group Inc (NASDAQ:WKHS) shares changed hands as the company’s beta touched 2.46. With the company’s per share price at $0.21 changed hands at -$0.01 or -5.41% during last session, the market valuation stood at $66.05M. WKHS’s last price was a discount, traded about -576.19% off its 52-week high of $1.42. The share price had its 52-week low at $0.22, which suggests the last value was -4.76% down since then. When we look at Workhorse Group Inc’s average trading volume, we note the 10-day average is 13.53 million shares, with the 3-month average coming to 8.25 million.
Workhorse Group Inc (NASDAQ:WKHS) trade information
Instantly WKHS was in red as seen at the end of in last trading. With action -21.13%, the performance over the past five days has been red. The drop to weekly highs of 0.2737 subtracted -5.41% to the stock’s daily price. The company’s shares are showing year-to-date downside of -41.72%, with the 5-day performance at -21.13% in the red. However, in the 30-day time frame, Workhorse Group Inc (NASDAQ:WKHS) is -26.44% down. Looking at the short shares, we see there were 52.84 million shares sold at short interest cover period of 5.97 days.
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 -55.80% over the past 6 months, a 50.00% in annual growth rate that is considerably higher than the industry average of 12.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Workhorse Group Inc will rise 33.30%, while the growth in revenue is estimated to hit 25.00% for the next quarter. Year-over-year growth is forecast to reach 261.70% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $3.9 million. 2 analysts are of the opinion that Workhorse Group Inc’s revenue for the quarter ending Jun 2024 will be $4.74 million. The company’s revenue for the corresponding quarters a year ago was $1.69 million and $3.97 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 130.40%. The estimates for the next quarter sales put growth at 19.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 4.17%. The 2024 estimates are for Workhorse Group Inc earnings to increase by 41.72%.
WKHS Dividends
Workhorse Group Inc is expected to release its next quarterly earnings report between May 13 and May 17.
Workhorse Group Inc (NASDAQ:WKHS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 6.39% of Workhorse Group Inc shares while 16.36% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 17.48%. There are 16.36% institutions holding the Workhorse Group Inc stock share, with Blackrock Inc. the top institutional holder. As of Dec 30, 2023, the company held 4.40% of the shares, roughly 13.85 million WKHS shares worth $2.9 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 3.14% or 9.87 million shares worth $2.07 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 5.12 million shares estimated at $1.07 million under it, the former controlled 1.63% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.42% of the shares, roughly 4.48 million shares worth around $0.94 million.
