BlackRock Fund Advisors has recently announced that it has increased stake in Workhorse Group Inc (NASDAQ:WKHS) by 8.55%. After grabbing 12.11 million shares, the institutional investor is now in possession of 0.95 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 4.64% having worth around $4.36 million. Moreover, SSgA Funds Management, Inc. increased its share by 0.72 million to have a control over 9.98 million shares. And The Vanguard Group, Inc. raised its holdings to 0.7 million shares by acquiring 9.27 million shares or 3.55% of the stake.
Workhorse Group Inc (WKHS) concluded trading on Wednesday at a closing price of $0.28, with 4.91 million shares of worth about $1.38 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -74.60% during that period and On Wednesday, January 24 the price saw a loss of about -6.41%. Currently the company’s common shares owned by public are about 260.89M shares, out of which, 252.86M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 48 times over the past 12 months. They bought 3,206,346 shares in 21 of the transactions. In 27 selling transactions, insiders dumped 392,599 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Workhorse Group Inc Vanguard Total Stock Market ETF is currently holding 5.12 million shares of worth totaling $1.84 million. The company recently came buying 0.0 shares which brought its stake up to 1.96% of the company’s outstanding shares. iShares Russell 2000 ETF sold 12888.0 shares, after which its hold over company’s outstanding shares shrunk to 1.87%, leaving 4.87 million shares with the mutual fund that have a worth of about $1.75 million. Vanguard Extended Market Index Fu, after buying 2.57 million shares, have now control over 0.98% of the stake in the company. It holds 0.0 shares of worth $0.92 million.
However, the stock later moved at a day high price of 0.3123, or with a loss of -6.41%. Stock saw a price change of -10.53% in past 5 days and over the past one month there was a price change of -24.13%. Year-to-date (YTD), WKHS shares are showing a performance of -20.97% which decreased to -86.89% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.27 but also hit the highest price of $2.60 during that period. The average intraday trading volume for Workhorse Group Inc shares is 6.86 million. The stock is currently trading -15.80% below its 20-day simple moving average (SMA20), while that difference is down -22.11% for SMA50 and it goes to -59.36% lower than SMA200.
BlackRock Fund Advisors acquired 12.11 million shares of Workhorse Group Inc having value of about $4.36 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.95 million shares in the company valued at close to $267102.92, or have control over 8.55% stake in the company. Workhorse Group Inc (NASDAQ: WKHS) currently have 260.89M outstanding shares and institutions hold larger chunk of about 20.42% of that. Holding of mutual funds in the company is about 10.57% while other institutional holders and individual stake holders have control over 7.33% and 10.15% of the stake respectively.
The stock has a current market capitalization of $74.22M and its 3Y-monthly beta is at 2.47. It has posted earnings per share of -$0.65 in the same period. It has Quick Ratio of 2.20 while making debt-to-equity ratio of 0.08. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WKHS, volatility over the week remained 9.90% while standing at 6.28% over the month.
Analysts are in expectations that Workhorse Group Inc (WKHS) stock would likely to be making an EPS of -$0.09 in the current quarter, while forecast for next quarter EPS is -$0.08 and it is -$0.32 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.12 which is -$0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.24 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 36.19% while it is estimated to increase by 37.98% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH Capital on August 09, 2022 offering a Neutral rating for the stock and assigned a target price range of between $7 and $3.50 to it.
