Workhorse Group (NASDAQ:WKHS) Shares Cross Above Fifty Day Moving Average – What’s Next?

Shares of Workhorse Group, Inc. (NASDAQ:WKHS) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.96 and traded as high as $3.25. Workhorse Group shares last traded at $3.07, with a volume of 40,709 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on WKHS. Weiss Ratings upgraded Workhorse Group from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday, June 1st. Wall Street Zen downgraded shares of Workhorse Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One investment 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 Trading Down 3.2%

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 stock’s 50 day moving average is $2.96 and its 200-day moving average is $3.13. The company has a market cap of $33.55 million, a PE ratio of -0.25 and a beta of 2.57.

Workhorse Group (NASDAQ:WKHS) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $5.33 million.

Institutional Trading of Workhorse Group

An institutional investor recently raised its position in Workhorse Group stock. Geode Capital Management LLC grew its stake in shares of Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,684 shares of the company’s stock after acquiring an additional 11,073 shares during the period. Geode Capital Management LLC owned about 0.47% of Workhorse Group worth $49,000 at the end of the most recent quarter. 15.98% of the stock is currently 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.