Workhorse Stock – B. Riley Comments on Workhorse Group Inc.’s Q1 2021 Earnings (NASDAQ:WKHS)
Workhorse Group Inc. (NASDAQ:WKHS) – Equities researchers at B. Riley issued their Q1 2021 EPS estimates for Workhorse Group in a note issued to investors on Thursday, April 15th. B. Riley analyst C. Souther expects that the company will post earnings per share of ($0.16) for the quarter. B. Riley has a “Buy” rating and a $20.00 price objective on the stock. B. Riley also issued estimates for Workhorse Group’s Q3 2021 earnings at ($0.14) EPS, Q4 2021 earnings at ($0.16) EPS, FY2021 earnings at ($0.58) EPS, Q1 2022 earnings at ($0.11) EPS, Q2 2022 earnings at ($0.07) EPS, Q3 2022 earnings at ($0.02) EPS, Q4 2022 earnings at $0.01 EPS, FY2022 earnings at ($0.19) EPS and FY2023 earnings at $0.26 EPS.
WKHS has been the subject of several other research reports. TheStreet upgraded Workhorse Group from an “e+” rating to a “c-” rating in a research report on Tuesday, March 30th. Oppenheimer downgraded shares of Workhorse Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 24th. Colliers Securities restated a “hold” rating on shares of Workhorse Group in a report on Monday, March 8th. Finally, Roth Capital cut their price objective on Workhorse Group from $19.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Workhorse Group has an average rating of “Hold” and a consensus price target of $19.89.
Shares of Workhorse Group stock opened at $13.23 on Monday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -7.15, a price-to-earnings-growth ratio of 9.07 and a beta of 2.80. The company has a fifty day moving average of $14.78 and a 200-day moving average of $22.27. Workhorse Group has a 52-week low of $2.08 and a 52-week high of $42.96. Workhorse Group (NASDAQ:WKHS) last announced its quarterly earnings data on Sunday, February 28th. The company reported $3.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $3.35. The firm had revenue of $0.65 million for the quarter, compared to analysts’ expectations of $1.25 million.
Institutional investors have recently modified their holdings of the stock. NEXT Financial Group Inc raised its stake in Workhorse Group by 903.5% during the 1st quarter. NEXT Financial Group Inc now owns 3,432 shares of the company’s stock valued at $47,000 after buying an additional 3,090 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Workhorse Group by 68.8% during the 1st quarter. HighPoint Advisor Group LLC now owns 11,813 shares of the company’s stock valued at $154,000 after purchasing an additional 4,816 shares during the period. Koshinski Asset Management Inc. purchased a new stake in shares of Workhorse Group during the 4th quarter valued at about $725,000. UBS Asset Management Americas Inc. purchased a new position in shares of Workhorse Group in the fourth quarter worth approximately $1,503,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Workhorse Group during the fourth quarter valued at approximately $305,000. Institutional investors own 21.43% of the company’s stock.
In related news, Director Gerald B. Budde sold 10,000 shares of the stock in a transaction on Tuesday, January 26th. The stock was sold at an average price of $30.98, for a total transaction of $309,800.00. Following the sale, the director now directly owns 214,047 shares of the company’s stock, valued at $6,631,176.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Duane Hughes sold 200,000 shares of Workhorse Group stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $29.00, for a total value of $5,800,000.00. Following the completion of the sale, the chief executive officer now owns 320,085 shares of the company’s stock, valued at $9,282,465. The disclosure for this sale can be found here. Insiders sold 391,445 shares of company stock valued at $11,750,738 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.
About Workhorse Group
Workhorse Group Inc, a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.
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