Workhorse Group Inc. (WKHS) can make a big difference with a little luck

Workhorse Group Inc. (NASDAQ: WKHS) stock jumped 8.16% on Friday to $2.12 against a previous-day closing price of $1.96. With 4.45 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.72 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $2.1200 whereas the lowest price it dropped to was $1.9550. The 52-week range on WKHS shows that it touched its highest point at $5.39 and its lowest point at $1.40 during that stretch. It currently has a 1-year price target of $4.50. Beta for the stock currently stands at 2.77.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WKHS was up-trending over the past week, with a rise of 7.61%, but this was up by 19.77% over a month. Three-month performance dropped to -10.92% while six-month performance fell -40.45%. The stock lost -39.77% in the past year, while it has gained 39.47% so far this year. A look at the trailing 12-month EPS for WKHS yields -1.57 with Next year EPS estimates of -0.49. For the next quarter, that number is -0.17. This implies an EPS growth rate of -546.80% for this year and 26.90% for next year.

Float and Shares Shorts:

At present, 160.21 million WKHS shares are outstanding with a float of 157.75 million shares on hand for trading. On Oct 13, 2022, short shares totaled 40.59 million, which was 24.79% higher than short shares on Sep 14, 2022. In addition to Mr. Richard F. Dauch as the firm’s Pres, CEO & Director, Mr. Gregory T. Ackerson serves as its Chief Accounting Officer, Principal Accounting Officer & Corp. Controller.


Institutional Ownership:

Through their ownership of 33.54% of WKHS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.99% of WKHS, in contrast to 23.02% held by mutual funds. Shares owned by individuals account for 10.12%. As the largest shareholder in WKHS with 5.50% of the stake, BlackRock Fund Advisors holds 9,018,162 shares worth 9,018,162. A second-largest stockholder of WKHS, The Vanguard Group, Inc., holds 8,253,006 shares, controlling over 5.03% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in WKHS, holding 7,070,492 shares or 4.31% stake. With a 3.68% stake in WKHS, the Invesco WilderHill Clean Energy E is the largest stakeholder. A total of 6,034,219 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.93% of WKHS stock, is the second-largest Mutual Fund holder. It holds 4,801,523 shares valued at 7.3 million. SPDR S&P Kensho New Economies Com holds 2.30% of the stake in WKHS, owning 3,775,505 shares worth 5.74 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WKHS since 7 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With WKHS analysts setting a high price target of $8.00 and a low target of $2.00, the average target price over the next 12 months is $4.50. Based on these targets, WKHS could surge 277.36% to reach the target high and fall by -5.66% to reach the target low. Reaching the average price target will result in a growth of 112.26% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. WKHS will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of -$0.61 being high and -$0.87 being low. For WKHS, this leads to a yearly average estimate of -$0.69. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Workhorse Group Inc. surprised analysts by -$0.10 when it reported -$0.22 EPS against a consensus estimate of -$0.12. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.11 and the low estimate is -$0.36. The average estimate for the next quarter is thus -$0.18.

Summary of Insider Activity:

Insiders traded WKHS stock several times over the past three months with 5 Buys and 4 Sells. In these transactions, 152,015 shares were bought while 88,247 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 18 over the past year. The total number of shares bought during that period was 2,520,516 while 208,763 shares were sold.

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