Workhorse Group Inc (NASDAQ:WKHS) shares, rose in value, with the stock price down by -0.33% to the previous day’s close as strong demand from buyers drove the stock to $0.21.
Actively observing the price movement in the last trading, the stock closed the session at $0.21. The value of beta (5-year monthly) was 2.49. Referring to stock’s 52-week performance, its high was $1.36, and the low was $0.20. On the whole, WKHS has fluctuated by -31.80% over the past month.
With the market capitalization of Workhorse Group Inc currently standing at about $66.90 million, investors are eagerly awaiting this quarter’s results, scheduled for May 13, 2024 – May 17, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.09, which is expected to increase to -$0.05 for fiscal year -$0.35 and then to about -$0.26 by fiscal year 2025. Data indicates that the EPS growth is expected to be 41.70% in 2025, while the next year’s EPS growth is forecast to be 25.70%.
Analysts have estimated the company’s revenue for the quarter at $4.13 million, with a low estimate of $3 million and a high estimate of $4.8 million. According to the average forecast, sales growth in current quarter could jump up 143.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $40.64 million, representing an increase of 210.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that WKHS’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of WKHS currently trading nearly -16.39% and -22.37% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 35.83, while the 7-day volatility ratio is showing 7.17% which for the 30-day chart, stands at 8.80%. Furthermore, Workhorse Group Inc (WKHS)’s beta value is 2.45, and its average true range (ATR) is 0.02.
A comparison of Workhorse Group Inc (WKHS) with its peers suggests the former has fared considerably weaker in the market. WKHS showed an intraday change of -0.33% in last session, and over the past year, it shrunk by -84.02%%.
Data on historical trading for Workhorse Group Inc (NASDAQ:WKHS) indicates that the trading volumes over the past 10 days have averaged 17.01 million and over the past 3 months, they’ve averaged 9.26 million. According to company’s latest data on outstanding shares, there are 314.83 million shares outstanding.
Nearly 7.87% of Workhorse Group Inc’s shares belong to company insiders and institutional investors own 16.17% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 52.37 million shares as on Mar 15, 2024, resulting in a short ratio of 5.11. According to the data, the short interest in Workhorse Group Inc (WKHS) stood at 16.82% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 49.75 million. The stock has fallen by -40.97% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the WKHS stock heading into the next quarter.
