Workhorse Group Inc. [WKHS] Revenue Reported at $-0.42 Million, Down -50.23% YTD: What’s Next?

Workhorse Group Inc. [NASDAQ: WKHS] The price fell -3.56 percent to $0.08. The company reported on November 8, 2022 that Workhorse Group presented third quarter 2022 results.

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In the recent session, 4221697 shares were traded against with an average daily volume of 3.27M shares. Workhorse Group Inc. Shares rose to a high of $2.26 and fell to a low of $2.14 before ending the latest session at $2.17.

The one-year WKHS stock forecast points to a potential upside of 59.29. The Average Equity Rating for WKHS stock is currently 2.40, which is trading near to a bullish pattern in the stock market.

Guru’s take on Workhorse Group Inc. [WKHS],

Based on careful and fact-backed analyzes by Wall Street experts, the current consensus on the target price for WKHS shares is $5.33 per share. Target prices and analysis on the performance of stocks are usually carefully studied by market experts, and the current Wall Street consensus on WKHS stock is a recommendation at 2.40. This rating represents a strong buy recommendation on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 indicates hold and 2 indicates buy.

ROTH Capital has maintained Neutral on the stock with its previous recommendation on August 09, 2022, Workhorse Group Inc. $6. The new note on price target was issued on March 03, 2022, which represents the official price target for Workhorse Group Inc stock. Previously, the target price was raised once again to $7, while analysts at ROTH Capital maintained a buy rating on WKHS stock.

Workhorse Group Inc. The Average True Range (ATR) has been set at 0.19. The Price to Book ratio for the previous quarter was 2.65.

WKHS Stock Performance Analysis:

Workhorse Group Inc. [WKHS] It fell into the red zone at the end of last week, fell into a negative trend and fell -17.18. With this latest performance, WKHS shares are down -17.49% in the last four-week period, as well as -15.23% in the last 6 months — compared to a -64.07% decline in the last year of trading. not mentioned.

Overbought and oversold stocks can be easily detected with the Relative Strength Index (RSI), where an RSI result of over 70 will result in overbought, and any rate below 30 will indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for the past two-week period for WKHS stock is set at 33.37, with the RSI for the last one trading hit at 26.54, and the three-week RSI for Workhorse Group Inc. is set at 37.41. [WKHS], The current moving average for the last 50 days of trade of this stock is 2.64, while it was recorded at 2.33 for the last one week and 3.17 for the last 200 days.

Workhorse Group Inc. Insight into the fundamentals:

The Return on Equity for this stock decreased to -140.85 while the Return on Assets stood at -93.26.

Workhorse Group Inc. Equally intriguing is its liquidity data, with a quick ratio of 2.50 and a current ratio set at 2.70.

Workhorse Group Inc. [WKHS] internal status statement

Institutional investors currently hold approximately $117 million, or 33.90%, of WKHS stock in their hands. The top three institutional holders of WKHS shares are: BLACKROCK INC with ownership of 10,357,290, which accounts for approximately 2.785% of the company’s market cap and approximately 0.30% of total institutional ownership; Vanguard Group Inc. holds 8,633,703 shares of stock with an approximate value of $18.73 million in WKHS stock shares; and STATE STREET CORP, currently owning approximately 3.507% of the company’s market capitalization with $15.34M in WKHS stock.

Shares positions held by institutional investors in Workhorse Group Inc. increased at the end of November and at the time of the November reporting period, where 91 institutional holders increased their positions in Workhorse Group Inc. [NASDAQ:WKHS] By approximately 4,416,252 shares. Additionally, 75 investors reduced positions by approximately 3,748,709 shares, while 68 investors maintained positions by 45,572,104 shares. As per the latest SEC report filing, the mentioned changes put the institutional holdings at 53,737,065 shares. There were 23 new institutional investments for a total of 531,865 shares in WKHS stock, while 23 institutional investors sold 1,597,823 shares during the same period.

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