Workhorse Group (NASDAQ:WKHS) Stock Price Breaks Above 50-Day Moving Average – Here’s What Happened

Workhorse Group, Inc. (NASDAQ:WKHS) shares crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $2.94 and traded as high as $3.18. Workhorse Group shares last traded at $3.15, with a volume of 347,726 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WKHS shares. Weiss Ratings raised Workhorse Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, September 10th. Wall Street Zen downgraded Workhorse Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Workhorse Group Stock Up 10.1%

The business’s fifty day moving average price is $2.94 and its 200 day moving average price is $3.22. The firm has a market capitalization of $34.43 million, a price-to-earnings ratio of -0.26 and a beta of 2.69. The company has a current ratio of 1.28, a quick ratio of 0.41 and a debt-to-equity ratio of 0.82.

Workhorse Group (NASDAQ:WKHS) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.91). The business had revenue of $3.56 million during the quarter, compared to analysts’ expectations of $5.33 million. Workhorse Group had a negative net margin of 357.61% and a negative return on equity of 311.04%.

Workhorse Group Company Profile

Workhorse Group, Inc is an American technology and manufacturing company focused on all-electric commercial vehicles. The company develops purpose-built vehicles for last-mile delivery, logistics, and other commercial fleet applications, with an emphasis on reducing operating emissions and supporting the transition from conventional gasoline- and diesel-powered vehicles.

Workhorse’s product portfolio has included electric step vans and chassis-cab vehicles designed for parcel delivery, trades, and other vocational uses.