Long-Term Investors Should Consider Buying the Dips in Workhorse Group Inc. [WKHS] Stock

Workhorse Group Inc. [WKHS] shares are up more than 638.43% this year and recently decreased -0.04% or -$0.84 to settle at $21.23. WKHS has a short ratio of 1.68. This implies that the market is currently less bearish on the outlook for WKHS.

On 9, November 2020, Workhorse Group Reports Third Quarter 2020 Results. According to news published on Yahoo Finance, Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, today reported financial results for the third quarter ended September 30, 2020.

Analyst Birdseye View:

The most recent analyst activity for Workhorse Group Inc. [NASDAQ:WKHS] stock was on October 13, 2020, when it was Downgrade with a Neutral rating from ROTH Capital, which also lowered its 12-month price target on the stock from $33 to $27. On September 03, 2020, Oppenheimer Initiated an Outperform rating and boosted its price target on this stock to $23. On July 13, 2020, ROTH Capital Reiterated a Buy rating and increased its price target from $12 to $27. On July 09, 2020, Colliers Securities Downgrade a Neutral rating. On July 01, 2020, BTIG Research Reiterated a Buy rating and boosted its amount target on this stock to $26. On June 26, 2020, Cowen Reiterated an Outperform rating and boosted its target amount on this stock from $4.50 to $11.50. On June 19, 2020, BTIG Research Reiterated a Buy rating and improved its amount target to $10.

In the past 52 weeks of trading, this stock has oscillated between a low of $1.32 and a peak of $30.99. Right now, according to Wall Street analyst the average 12-month amount target is $24.00. At the most recent market close, shares of Workhorse Group Inc. [NASDAQ:WKHS] were valued at $21.23. According to the average price forecast, investors can expect a potential return of -3.48%.

FUNDAMENTAL ANALYSIS

Workhorse Group Inc. [NASDAQ:WKHS] most recently reported quarterly sales of 564.7 million, which represented growth of 13162.30%. This publicly-traded organization’s revenue is $4,649 per employee, while its income is -$458,800 per employee. Continuing to look at profitability, this corporation’s Return on Assets & Whole Principal is sitting at -118.96 and -295.76 respectively.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 250.17 and the whole liability to whole assets at 114.78. It shows enduring liability to the whole principal at 165.78 and enduring liability to assets at 0.76 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 20.77 points at 1st support level, the second support level is making up to 20.30. But as of 1st resistance point, this stock is sitting at 21.87 and at 22.50 for 2nd resistance point.

Workhorse Group Inc. [WKHS] reported its earnings at -$0.78 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.1/share signifying the difference of -0.68 and -680.00% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$1.76 calling estimates for -$0.11/share with the difference of -1.65 depicting the surprise of -1,500.00%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Workhorse Group Inc. [NASDAQ:WKHS] is 0.80. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.53. Now if looking for a valuation of this stock’s amount to sales ratio it’s 519.22.

Insider Stories

The most recent insider trade was by Mader Pamela S., Director, and it was the sale of 8000.0 shares on Nov 24. Samuels H. Benjamin, the Director, completed a sale of 66666.0 shares on Nov 20. On Nov 20, Samuels H. Benjamin, Director, completed a sale of 33333.0 shares.