Timing, Fundamentals, and Diversification of Workhorse Group Inc. (WKHS)

The closing price of Workhorse Group Inc. (NASDAQ: WKHS) was $2.25 for the day, down -3.85% from the previous closing price of $2.34. In other words, the price has decreased by -$0.0900 from its previous closing price. On the day, 2364811 shares were traded. WKHS stock price reached its highest trading level at $2.3400 during the session, while it also had its lowest trading level at $2.2300.

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Our analysis of WKHS’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 2.50 and its Current Ratio is at 2.70. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, ROTH Capital on August 09, 2022, Downgraded its rating to Neutral and sets its target price to $3.50 from $7 previously.

On March 03, 2022, R. F. Lafferty Upgraded its rating to Buy which previously was Hold and also upped its target price recommendation from $4 to $6.

ROTH Capital Upgraded its Neutral to Buy on March 02, 2022, while the target price for the stock was maintained at $7.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Nov 18 when DeMott Harry sold 27,871 shares for $2.43 per share. The transaction valued at 67,754 led to the insider holds 33,003 shares of the business.

Mader Pamela S. bought 12,600 shares of WKHS for $40,050 on Mar 15. The Director now owns 53,508 shares after completing the transaction at $3.18 per share. On Mar 14, another insider, DAUCH RICHARD F, who serves as the Chief Executive Officer of the company, bought 50,000 shares for $3.10 each. As a result, the insider paid 155,000 and bolstered with 1,955,115 shares of the company.

Stock Price History:

Over the past 52 weeks, WKHS has reached a high of $6.36, while it has fallen to a 52-week low of $2.11. The 50-Day Moving Average of the stock is 2.6592, while the 200-Day Moving Average is calculated to be 3.1806.

Shares Statistics:

WKHS traded an average of 3.28M shares per day over the past three months and 4.62M shares per day over the past ten days. A total of 160.21M shares are outstanding, with a floating share count of 157.75M. Insiders hold about 0.30% of the company’s shares, while institutions hold 33.90% stake in the company. Shares short for WKHS as of Oct 13, 2022 were 40.59M with a Short Ratio of 40.37M, compared to 38.68M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 24.79% and a Short% of Float of 25.60%.

Earnings Estimates

The firm’s stock currently is rated by 6 analysts. On average, analysts expect EPS of -$0.12 for the current quarter, with a high estimate of -$0.09 and a low estimate of -$0.14, while EPS last year was -$0.77. The consensus estimate for the next quarter is -$0.13, with high estimates of -$0.09 and low estimates of -$0.16.

Analysts are recommending an EPS of between -$0.45 and -$0.57 for the fiscal current year, implying an average EPS of -$0.53. EPS for the following year is -$0.43, with 7 analysts recommending between -$0.32 and -$0.53.

Revenue Estimates

A total of 7 analysts have provided revenue estimates for WKHS’s current fiscal year. The highest revenue estimate was $22.5M, while the lowest revenue estimate was $15M, resulting in an average revenue estimate of $18.29M. In the same quarter a year ago, actual revenue was -$852k, down -2,246.70% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $131.71M in the next fiscal year. The high estimate is $188.9M and the low estimate is $100M. The average revenue growth estimate for next year is up 620.10% from the average revenue estimate for this year.