Workhorse Group Inc (NASDAQ: WKHS)’s stock price has increased by 0.54 compared to its previous closing price of 0.20. However, the company has seen a -12.32% decrease in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-05 that The heavy selling pressure might have exhausted for Workhorse (WKHS) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
Is It Worth Investing in Workhorse Group Inc (NASDAQ: WKHS) Right Now?
WKHS has 36-month beta value of 2.46. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for WKHS is 290.06M, and currently, short sellers hold a 18.05% ratio of that float. The average trading volume of WKHS on April 08, 2024 was 9.61M shares.
WKHS’s Market Performance
WKHS’s stock has seen a -12.32% decrease for the week, with a -32.20% drop in the past month and a -42.69% fall in the past quarter. The volatility ratio for the week is 6.29%, and the volatility levels for the past 30 days are at 8.70% for Workhorse Group Inc The simple moving average for the past 20 days is -16.09% for WKHS’s stock, with a -60.86% simple moving average for the past 200 days.
Analysts’ Opinion of WKHS
Many brokerage firms have already submitted their reports for WKHS stocks, with ROTH Capital repeating the rating for WKHS by listing it as a “Neutral.” The predicted price for WKHS in the upcoming period, according to ROTH Capital is $3.50 based on the research report published on August 09, 2022 of the previous year 2022.
R. F. Lafferty, on the other hand, stated in their research note that they expect to see WKHS reach a price target of $6, previously predicting the price at $4. The rating they have provided for WKHS stocks is “Buy” according to the report published on March 03rd, 2022.
ROTH Capital gave a rating of “Buy” to WKHS, setting the target price at $7 in the report published on March 02nd of the previous year.
WKHS Trading at -23.76% from the 50-Day Moving Average
After a stumble in the market that brought WKHS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -84.88% of loss for the given period.
Volatility was left at 8.70%, however, over the last 30 days, the volatility rate increased by 6.29%, as shares sank -32.54% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -27.70% lower at present.
During the last 5 trading sessions, WKHS fell by -12.32%, which changed the moving average for the period of 200-days by -78.37% in comparison to the 20-day moving average, which settled at $0.2402. In addition, Workhorse Group Inc saw -42.86% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for WKHS
Current profitability levels for the company are sitting at:
- -8.04 for the present operating margin
- -1.93 for the gross margin
The net margin for Workhorse Group Inc stands at -9.38. The total capital return value is set at -1.19. Equity return is now at value -129.29, with -76.39 for asset returns.
Based on Workhorse Group Inc (WKHS), the company’s capital structure generated 0.26 points at debt to capital in total, while cash flow to debt ratio is standing at -4.24. The debt to equity ratio resting at 0.35. The interest coverage ratio of the stock is -9.03.
Currently, EBITDA for the company is -101.24 million with net debt to EBITDA at 0.07. When we switch over and look at the enterprise to sales, we see a ratio of 4.42. The receivables turnover for the company is 2.93for trailing twelve months and the total asset turnover is 0.09. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.76.
Conclusion
To put it simply, Workhorse Group Inc (WKHS) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
