Is This The Time To Buy? – Marketing Sentinel
Workhorse Group Inc. (NASDAQ:WKHS)’s traded shares stood at 6.89 million during the last session, with the company’s beta value hitting 2.68. At the close of trading, the stock’s price was $8.23, to imply a decrease of -2.60% or -$0.22 in intraday trading. The WKHS share’s 52-week high remains $42.96, putting it -421.99% down since that peak but still an impressive 14.09% since price per share fell to its 52-week low of $7.07. The company has a valuation of $1.06B, with an average of 5.54 million shares in intraday trading volume over the past 10 days and average of 10.71 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Workhorse Group Inc. (WKHS), translating to a mean rating of 2.60. Of 6 analyst(s) looking at the stock, 0 analyst(s) give WKHS a Sell rating. 0 of those analysts rate the stock as Overweight while 4 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.35.
After registering a -2.60% downside in the last session, Workhorse Group Inc. (WKHS) has traded red over the past five days. The stock hit a weekly high of 9.23 this Wednesday, 09/15/21, dropping -2.60% in its intraday price action. The 5-day price performance for the stock is -7.63%, and -10.15% over 30 days. With these gigs, the year-to-date price performance is -58.39%. Short interest in Workhorse Group Inc. (NASDAQ:WKHS) saw shorts transact 43.63 million shares and set a 5.69 days time to cover.
Analysts on Wall Street suggest a consensus price target of $10.83, implying an increase of 24.01% to the stock’s current value. The extremes give us $6.00 and $18.00 for target low and target high price respectively. As such, WKHS has been trading -118.71% off suggested target high and 27.1% from its likely low.
Workhorse Group Inc. (WKHS) estimates and forecasts
Looking at statistics comparing Workhorse Group Inc. share performance against respective industry, we note that the company has underperformed competitors. Workhorse Group Inc. (WKHS) shares are -51.39% down over the last 6 months, with its year-to-date growth rate lower than industry average at -347.14% against 29.30%. Revenue is forecast to grow 55.10% this quarter before falling -103.40% for the next one. The rating firms project that company’s revenue will grow 952.40% compared to the previous financial year.
Revenue forecast for the current quarter as set by 7 analysts is $4.78 million. Meanwhile, for the quarter ending Dec 2021, a total of 7 analyst(s) estimate revenue growth to $8.18 million.Earnings reports from the last fiscal year show that sales brought in $1.81 million and $652k respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 164.10% before jumping 1,154.60% in the following quarter.
Workhorse Group Inc. has its next earnings report out on May 10. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Workhorse Group Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Workhorse Group Inc. (NASDAQ:WKHS)’s Major holders
Workhorse Group Inc. insiders hold 8.48% of total outstanding shares, with institutional holders owning 40.03% of the shares at 43.74% float percentage. In total, 40.03% institutions holds shares in the company, led by Blackrock Inc. As of Jun 29, 2021, the company held over 8.68 million shares (or 7.00% of shares), all amounting to roughly $144.03 million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 5.51 million shares, or about 4.45% of shares outstanding. As of the market price on Jun 29, 2021, these shares were worth $91.48 million.
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We also have Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF as the top two Mutual Funds with the largest holdings of the Workhorse Group Inc. (WKHS) shares. Going by data provided on Jun 29, 2021, Vanguard Total Stock Market Index Fund holds roughly 3.13 million shares. This is just over 2.53% of the total shares, with a market valuation of $51.94 million. Data from the same date shows that the other fund manager holds a little less at 2.83 million, or 2.29% of the shares, all valued at about 47.0 million.