Workhorse Group (NASDAQ:WKHS) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of Workhorse Group, Inc. (NASDAQ:WKHS) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.40 and traded as low as $2.83. Workhorse Group shares last traded at $3.07, with a volume of 152,728 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WKHS. Wall Street Zen cut shares of Workhorse Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of Workhorse Group from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Workhorse Group presently has an average rating of “Sell”.

Workhorse Group Trading Down 3.8%

The firm has a 50-day simple moving average of $3.02 and a 200-day simple moving average of $3.38. The company has a quick ratio of 0.25, a current ratio of 1.23 and a debt-to-equity ratio of 0.22. The stock has a market cap of $33.21 million, a PE ratio of -0.10 and a beta of 2.56.

Workhorse Group (NASDAQ:WKHS) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($1.99) earnings per share for the quarter, missing the consensus estimate of ($1.47) by ($0.52). The company had revenue of $4.33 million during the quarter, compared to analysts’ expectations of $8.52 million. Workhorse Group had a negative net margin of 299.18% and a negative return on equity of 255.45%. Equities analysts forecast that Workhorse Group, Inc. will post -5.25 earnings per share for the current year.

Institutional Investors Weigh In On Workhorse Group

An institutional investor recently raised its position in Workhorse Group stock. Geode Capital Management LLC raised its position in Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,684 shares of the company’s stock after purchasing an additional 11,073 shares during the period. Geode Capital Management LLC owned 0.47% of Workhorse Group worth $49,000 at the end of the most recent reporting period. 15.98% of the stock is currently owned by institutional investors and hedge funds.

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.