Workhorse Group Inc. (NASDAQ:WKHS) marked $3.50 per share on Monday, up from a previous closing price of $3.27. While Workhorse Group Inc. has overperformed by 7.03%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, WKHS fell by -69.67%, with highs and lows ranging from $12.06 to $2.11, whereas the simple moving average fell by -14.41% in the last 200 days.
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On March 03, 2022, R. F. Lafferty Upgraded Workhorse Group Inc. (NASDAQ: WKHS) to Buy. A report published by ROTH Capital on March 02, 2022, Upgraded its rating to ‘Buy’ for WKHS. R. F. Lafferty also rated WKHS shares as ‘Hold’, setting a target price of $4 on the company’s shares in an initiating report dated February 02, 2022. DA Davidson Initiated an Neutral rating on August 11, 2021, and assigned a price target of $10. Cowen June 04, 2021d its ‘Outperform’ rating to ‘Market Perform’ for WKHS, as published in its report on June 04, 2021. B. Riley Securities’s report from April 16, 2021 suggests a price prediction of $20 for WKHS shares, giving the stock a ‘Buy’ rating. Oppenheimer also rated the stock as ‘Perform’.
Analysis of Workhorse Group Inc. (WKHS)
In order to gain a clear picture of Workhorse Group Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -174.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 8.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 4.66M can be a very valuable indicator of volatility for WKHS stock. On a monthly basis, the volatility of the stock is set at 7.80%, whereas on a weekly basis, it is put at 6.94%, with a gain of 17.45% over the past seven days. Furthermore, long-term investors anticipate a median target price of $6.33, showing growth from the present price of $3.50, which can serve as yet another indication of whether WKHS is worth investing in or should be passed over.
How Do You Analyze Workhorse Group Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.70%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 32.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in WKHS shares?
The recent increase in stakes in WKHS appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in WKHS has increased by 16.61% in the first quarter. The company now owns 8,768,669 shares of the stock, with a value of $22.8 million, following the purchase of 1,249,124 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in WKHS during the first quarter, upping its stake by 5.07%. During the last quarter, the company picked up 325,741 additional shares for a total stake of worth $17.55 million, bringing number of shares owned by the company to 6,751,852.
During the first quarter, Invesco Capital Management LLC added a 31,181 position in WKHS. SSgA Funds Management, Inc. purchased an additional 0.23 million shares in the last quarter, increasing its holdings by 6.71%, now holding 3.61 million shares worth $9.39 million. At the end of the first quarter, Geode Capital Management LLC increased its WKHS holdings by 29.05% and now holds 2.8 million WKHS shares valued at $7.27 million with the added 0.63 million shares during the period. WKHS shares are owned by institutional investors to the tune of 32.70% at present.