Workhorse Group Inc. (WKHS) – The 15.94% Upside Potential Remains

Workhorse Group Inc. (NASDAQ: WKHS) is -23.51% lower on its value in year-to-date trading and has touched a low of $1.32 and a high of $42.96 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The WKHS stock was last observed hovering at around $16.47 in the last trading session, with the day’s loss setting it -1.34% off its average median price target of $18.00 for the next 12 months. It is also 47.83% off the consensus price target high of $29.00 offered by 7 analysts, but current levels are -37.55% lower than the price target low of $11.00 for the same period.

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Currently trading at $15.13, the stock is -56.52% and -45.21% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 96.38 million and changing -8.11% at the moment leaves the stock -21.03% off its SMA200. WKHS registered 326.20% gain for a year compared to 6-month gain of -7.88%. The firm has a 50-day simple moving average (SMA 50) of $30.73 and a 200-day simple moving average (SMA200) of $23.66.

The stock witnessed a -38.77% loss in the last 1 month and extending the period to 3 months gives it a -41.31%, and is -53.35% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 34.34% over the week and 18.65% over the month.

Workhorse Group Inc. (WKHS) has around 81 employees, a market worth around $1.73B and $0.70M in sales. Distance from 52-week low is 1050.57% and -64.78% from its 52-week high. The company has generated returns on investments over the last 12 months (-102.90%).

Workhorse Group Inc. (WKHS) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Workhorse Group Inc. (WKHS) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 2.10, where 4 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Workhorse Group Inc. is expected to release its quarterly report on 05/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.13 with sales reaching $1.32M over the same period.The EPS is expected to grow by 21.70% this year, but quarterly earnings will post 422.50% year-over-year. Quarterly sales are estimated to grow 65,900.00% in year-over-year returns.

Workhorse Group Inc. (WKHS) Top Institutional Holders

241 institutions hold shares in Workhorse Group Inc. (WKHS), with 10.69M shares held by insiders accounting for 8.87% while institutional investors hold 36.44% of the company’s shares. The shares outstanding are 120.53M, and float is at 112.46M with Short Float at 22.95%. Institutions hold 33.21% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 7.1 million shares valued at $140.38 million. The investor’s holdings represent 5.89% of the WKHS Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 5.23 million shares valued at $103.49 million to account for 4.34% of the shares outstanding. The other top investors are Seaport Global Asset Management, LLC which holds 3.86 million shares representing 3.20% and valued at over $76.29 million, while State Street Corporation holds 1.83% of the shares totaling 2.21 million with a market value of $43.69 million.

Workhorse Group Inc. (WKHS) Insider Activity

A total of 72 insider transactions have happened at Workhorse Group Inc. (WKHS) in the last six months, with sales accounting for 56 and purchases happening 16 times. The most recent transaction is an insider sale by Chess Raymond Joseph, the company’s Director. SEC filings show that Chess Raymond Joseph sold 5,000 shares of the company’s common stock on Feb 16 at a price of $35.98 per share for a total of $0.18 million. Following the sale, the insider now owns 0.13 million shares.

Workhorse Group Inc. disclosed in a document filed with the SEC on Feb 01 that Hughes Duane (CEO and President) sold a total of 25,000 shares of the company’s common stock. The trade occurred on Feb 01 and was made at $35.97 per share for $0.9 million. Following the transaction, the insider now directly holds 0.32 million shares of the WKHS stock.

Still, SEC filings show that on Jan 27, Ackerson Gregory T. (Controller) disposed off 6,445 shares at an average price of $37.50 for $0.24 million. The insider now directly holds 97,335 shares of Workhorse Group Inc. (WKHS).

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Workhorse Group Inc. (WKHS): Who are the competitors?

The company’s main competitors (and peers) include Navistar International Corporation (NAV) that is trading 21.45% up over the past 12 months. General Motors Company (GM) is 66.61% up on the 1-year trading charts. Short interest in the company’s stock has fallen -34.64% from the last report on Dec 30, 2020 to stand at a total of 34.75 million short shares sold with a short interest ratio of 1.4.

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