The Vanguard Group, Inc. has recently announced that it has increased stake in Workhorse Group Inc. (NASDAQ:WKHS) by 13.32%. After grabbing 7.65 million shares, the institutional investor is now in possession of 0.9 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 4.67% having worth around $20.66 million. Moreover, SSgA Funds Management, Inc. increased its share by 3.22 million to have a control over 6.83 million shares. And Invesco Capital Management LLC raised its holdings to 0.67 million shares by acquiring 4.82 million shares or 2.95% of the stake.
Workhorse Group Inc. (WKHS) concluded trading on 11/17/22 at a closing price of $2.48, with 3.64 million shares of worth about $9.03 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -15.65% during that period and on Thursday the price saw a loss of about -5.34%. Currently the company’s common shares owned by public are about 160.21M shares, out of which, 157.75M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the WKHS stock and their offered price forecasts bring an average price target of $4.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $8.00 and could fall to a lowest price of $2.50. The stock’s current price level is 48.65% above of average price target set by the analysts, while a rise to estimated low would result in gain of 0.8% for the stock. However, touching the estimated high of $8.00 would mean a gain of 69.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 43 times over the past 12 months. They bought 2,473,448 shares in 30 of the transactions. In 13 selling transactions, insiders dumped 71,160 shares.
Vanguard Total Stock Market Index, Invesco WilderHill Clean Energy E, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Workhorse Group Inc. Vanguard Total Stock Market Index is currently holding 4.8 million shares of worth totaling $12.96 million. The company recently came buying 0.16 million shares which brought its stake up to 2.93% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 3.39 million shares, have now control over 2.07% of the stake in the company. It holds 62916.0 shares of worth $9.15 million.
Workhorse Group Inc. (NASDAQ: WKHS) started trading at $2.49, below -$0.13 from concluding price of the previous day. However, the stock later moved at a day high price of 2.5200, or with a loss of -5.34%. Stock saw a price change of -9.49% in past 5 days and over the past one month there was a price change of 4.20%. Year-to-date (YTD), WKHS shares are showing a performance of -43.12% which decreased to -63.42% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.11 but also hit the highest price of $7.07 during that period. The average intraday trading volume for Workhorse Group Inc. shares is 3.31 million. The stock is currently trading -6.20% below its 20-day simple moving average (SMA20), while that difference is down -8.73% for SMA50 and it goes to -22.39% lower than SMA200.
The Vanguard Group, Inc. acquired 7.65 million shares of Workhorse Group Inc. having value of about $20.66 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.9 million shares in the company valued at close to $2229760.56, or have control over 13.32% stake in the company. Workhorse Group Inc. (NASDAQ: WKHS) currently have 160.21M outstanding shares and institutions hold larger chunk of about 33.60% of that. Holding of mutual funds in the company is about 11.66% while other institutional holders and individual stake holders have control over 20.43% and 10.02% of the stake respectively.
The stock has a current market capitalization of $396.80M and its 3Y-monthly beta is at 2.72. It has posted earnings per share of -$1.57 in the same period. It has Quick Ratio of 2.50 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WKHS, volatility over the week remained 7.81% while standing at 8.14% over the month.
Analysts are in expectations that Workhorse Group Inc. (WKHS) stock would likely to be making an EPS of -$0.12 in the current quarter, while forecast for next quarter EPS is -$0.13 and it is -$0.43 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.14 which is -$0.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.77 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -546.80% while it is estimated to increase by 18.90% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Workhorse Group Inc. (WKHS)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 7 Wall Street analysts, 3 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH Capital on August 09, 2022 offering a Neutral rating for the stock and assigned a target price range of between $7 and $3.50 to it. Coverage by R. F. Lafferty stated Workhorse Group Inc. (WKHS) stock as a Buy in their note to investors on March 03, 2022, suggesting a price target of $6 for the stock. On March 02, 2022, ROTH Capital Upgrade their recommendations, while on February 02, 2022, R. F. Lafferty Resumed their ratings for the stock with a price target of $4. Stock get a Neutral rating from DA Davidson on August 11, 2021.