Workhorse Group Inc (NASDAQ: WKHS) stock jumped 1.50% on Monday to $0.38 against a previous-day closing price of $0.37. With 5.01 million shares changed hands, the volume of the stock remained lighter than its average volume of 9.91 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.3975 whereas the lowest price it dropped to was $0.3770. The 52-week range on WKHS shows that it touched its highest point at $2.60 and its lowest point at $0.36 during that stretch. It currently has a 1-year price target of $0.88. Beta for the stock currently stands at 2.81.
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 down-trending over the past week, with a drop of -4.98%, but this was down by -5.94% over a month. Three-month performance dropped to -49.45% while six-month performance fell -58.81%. The stock lost -84.68% in the past year, while it has lost -75.00% so far this year. A look at the trailing 12-month EPS for WKHS yields -0.65 with Next year EPS estimates of -0.31. For the next quarter, that number is -0.09. This implies an EPS growth rate of 35.14% for this year and 35.83% for next year.
Float and Shares Shorts:
At present, 260.92 million WKHS shares are outstanding with a float of 250.27 million shares on hand for trading. On Oct 30, 2023, short shares totaled 51.27 million, which was 24.09% higher than short shares on Sep 28, 2023. In addition to Mr. Richard F. Dauch as the firm’s President, CEO & Director, Mr. Robert M. Ginnan serves as its Chief Financial Officer.
Through their ownership of 33.19% of WKHS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.09% of WKHS, in contrast to 15.00% held by mutual funds. Shares owned by individuals account for 10.43%. As the largest shareholder in WKHS with 5.74% of the stake, BlackRock Fund Advisors holds 12,106,203 shares worth 12,106,203. A second-largest stockholder of WKHS, SSgA Funds Management, Inc., holds 9,978,537 shares, controlling over 4.73% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in WKHS, holding 9,273,249 shares or 4.40% stake. With a 2.43% stake in WKHS, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 5,121,723 shares are owned by the mutual fund manager. The SPDR S&P Kensho New Economies Com, which owns about 2.38% of WKHS stock, is the second-largest Mutual Fund holder. It holds 5,019,688 shares valued at 2.09 million. iShares Russell 2000 ETF holds 2.00% of the stake in WKHS, owning 4,205,146 shares worth 1.75 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WKHS since 0 analysts follow the stock currently. 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 $1.00 and a low target of $0.50, the average target price over the next 12 months is $0.88. Based on these targets, WKHS could surge 163.16% to reach the target high and rise by 31.58% to reach the target low. Reaching the average price target will result in a growth of 131.58% from current levels.
Summary of Insider Activity:
Insiders traded WKHS stock several times over the past three months with 0 Buys and 4 Sells. In these transactions, 0 shares were bought while 46,031 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 3,358,361 while 441,293 shares were sold.