Workhorse Group (NASDAQ:WKHS) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Workhorse Group, Inc. (NASDAQ:WKHS)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.93 and traded as high as $3.33. Workhorse Group shares last traded at $3.15, with a volume of 74,973 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Workhorse Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised shares of Workhorse Group from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Workhorse Group Stock Performance

The firm has a market capitalization of $35.30 million, a PE ratio of -0.26 and a beta of 2.57. The company has a quick ratio of 0.41, a current ratio of 1.28 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $2.94 and a 200 day moving average of $3.18.

Workhorse Group (NASDAQ:WKHS) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.91). Workhorse Group had a negative net margin of 357.61% and a negative return on equity of 311.04%. The business had revenue of $3.56 million during the quarter, compared to analysts’ expectations of $5.33 million.

Institutional Investors Weigh In On Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC grew its stake in Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,684 shares of the company’s stock after buying an additional 11,073 shares during the period. Geode Capital Management LLC owned approximately 0.47% of Workhorse Group worth $49,000 at the end of the most recent reporting period. 15.98% of the stock is owned by institutional investors.

Workhorse Group Company Profile

Workhorse Group Inc is a U.S.-based technology company specializing in the design and manufacture of electric vehicles and drone-integrated delivery solutions. Founded in 2007 and headquartered in Loveland, Ohio, Workhorse focuses on last-mile delivery, combining electric powertrain systems, advanced telematics and proprietary composite bodies to address the growing demand for sustainable logistics fleets.

The company’s core product lineup includes the N-GEN™ chassis, a modular electric vehicle platform available in Class 3–5 configurations, and the C-1000™ all-electric delivery van.