Workhorse Group (NASDAQ:WKHS) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Workhorse Group, Inc. (NASDAQ:WKHS) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.93 and traded as high as $3.33. Workhorse Group shares last traded at $3.15, with a volume of 74,973 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WKHS. Wall Street Zen cut Workhorse Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised 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 MarketBeat.com, the company presently has a consensus rating of “Sell”.

Workhorse Group Stock Performance

The company has a 50-day simple moving average of $2.93 and a two-hundred day simple moving average of $3.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.41 and a current ratio of 1.28. The firm has a market capitalization of $34.43 million, a P/E ratio of -0.26 and a beta of 2.57.

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

Institutional Investors Weigh In On Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC increased its position in Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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. Institutional investors own 15.98% of the company’s stock.

About Workhorse Group

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.