There’s Still Time to Buy Workhorse Group Inc (NASDAQ:WKHS) Stock

In yesterday’s Wall Street session, Workhorse Group Inc (NASDAQ:WKHS) shares traded at $0.40, down -7.16% from the previous session.

6 analysts cover Workhorse Group Inc (NASDAQ:WKHS), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $4.00 and a low of $1.00, we find $1.50. Given the previous closing price of $0.43, this indicates a potential upside of 248.84 percent. WKHS stock price is now -19.06% away from the 50-day moving average and -62.20% away from the 200-day moving average. The market capitalization of the company currently stands at $84.74M.

The stock has received a hold rating from 4 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $2.00 as their price target over the next twelve months.

With the price target reduced from $7 to $3.50, ROTH Capital Downgraded its rating from Buy to Neutral for Workhorse Group Inc (NASDAQ: WKHS).

In other news, March Stanley Raymond, VP, Business Development bought 24,000 shares of the company’s stock on Dec 14. The stock was bought for $45,120 at an average price of $1.88. Upon completion of the transaction, the VP, Business Development now directly owns 67,000 shares in the company, valued at $26800.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 13, VP, Business Development March Stanley Raymond bought 1,000 shares of the business’s stock. A total of $1,900 was incurred on buying the stock at an average price of $1.90. This leaves the insider owning 43,000 shares of the company worth $17200.0. Insiders disposed of 469,164 shares of company stock worth roughly $0.19 million over the past 1 year. A total of 3.82% of the company’s stock is owned by insiders.

On Wednesday morning Workhorse Group Inc (NASDAQ: WKHS) stock kicked off with the opening price of $0.4500. During the past 12 months, Workhorse Group Inc has had a low of $0.38 and a high of $2.98. As of last week, the company has a debt-to-equity ratio of 0.09, a current ratio of 2.14, and a quick ratio of 1.54. The fifty day moving average price for WKHS is $0.4967 and a two-hundred day moving average price translates $1.0636 for the stock.

The latest earnings results from Workhorse Group Inc (NASDAQ: WKHS) was released for Jun, 2023. According to the Auto Manufacturers Company, earnings per share came in at -$0.12, beating analysts’ expectations of -$0.15 by 0.03. This compares to -$0.13 EPS in the same period last year. The net profit margin was -1145.60% and return on equity was -90.02% for WKHS. The company reported revenue of $3.97 million for the quarter, compared to $13000.0 a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 30415.38 percent. For the current quarter, analysts expect WKHS to generate $20.94M in revenue.

Workhorse Group Inc(WKHS) Company Profile

Workhorse Group Inc., a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers electric and range-extended medium-duty delivery trucks under the Workhorse brand; and HorseFly Unmanned Aerial System, as well as designs and manufactures drone systems. It also provides Metron, a remote data management system that tracks the performance of various the vehicles deployed. The company was formerly known as AMP Holding Inc. and changed its name to Workhorse Group Inc. in April 2015. Workhorse Group Inc. was founded in 2007 and is headquartered in Sharonville, Ohio.

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