Workhorse Group Inc. (NASDAQ:WKHS) is expected to report quarterly sales of $280,000.00
Wall Street analysts expect Workhorse Group Inc. (NASDAQ:WKHS – Get Rating) to report sales of $280,000.00 for the current fiscal quarter, Zacks reports. Two analysts have made earnings estimates for Workhorse Group. The lowest sales estimate is $100,000.00 and the highest is $460,000.00. Workhorse Group recorded sales of $520,000.00 in the same quarter last year, which would indicate a negative growth rate of 46.2% year over year. The company is expected to release its next quarterly results on Monday, May 9.
On average, analysts expect Workhorse Group to post annual revenue of $23.42 million for the current year, with estimates ranging from $22.10 to $25.10 million. For the next fiscal year, analysts expect the company to post sales of $145.17 million, with estimates ranging from $121.52 million to $189.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that track Workhorse Group.
A number of research companies have recently commented on WKHS. B. Riley reduced his price target on Workhorse Group shares from $7.00 to $6.00 in a Wednesday, March 2 research note. Roth Capital moved shares of Workhorse Group from a “neutral” rating to a “buy” rating and set a target price of $7.00 on the stock in a Wednesday, March 2 report. UBS Group raised shares of Workhorse Group to a “buy” rating in a Wednesday, March 2 report. RF Lafferty moved shares of Workhorse Group from a “hold” rating to a “buy” rating and raised his target price for the company from $4.00 to $6.00 in a Thursday, March 3, report. Finally, Zacks Investment Research moved shares of Workhorse Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 25. One financial analyst gave the stock a sell rating, three issued a hold rating and four issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.92.
A number of institutional investors have recently increased or reduced their stake in WKHS. Daiwa Securities Group Inc. bought a new stock position in Workhorse Group during the third quarter worth approximately $31,000. United Maritime Capital LLC increased its shareholding in Workhorse Group by 8.0% during the third quarter. United Maritime Capital LLC now owns 54,213 shares of the company worth $415,000 after purchasing an additional 4,000 shares during the period. Marshall Wace North America LP purchased a new stock position in Workhorse Group during the second quarter for a value of approximately $239,000. Price T Rowe Associates Inc. MD increased its shareholding in Workhorse Group by 30.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 47,794 shares of the company worth $793,000 after purchasing an additional 11,149 shares during the period. Finally, Metropolitan Life Insurance Co NY increased its holdings of Workhorse Group shares by 135,980.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 34,020 shares of the company worth $564,000 after purchasing an additional 33,995 shares during the period. 36.13% of the shares are currently held by hedge funds and other institutional investors.
NASDAQ WKHS shares opened at $4.38 on Friday. The company has a market capitalization of $664.34 million, a PE ratio of -1.33 and a beta of 2.70. The company has a current ratio of 7.85, a quick ratio of 7.48 and a debt ratio of 0.14. Workhorse Group has a 1-year minimum of $2.58 and a 1-year maximum of $18.59. The company has a fifty-day moving average price of $3.45 and a 200-day moving average price of $5.43.
About Workhorse Group (Get an assessment)
Workhorse Group, Inc is a technology company committed to providing sustainable solutions to the commercial transportation industry. It operates as an original equipment manufacturer, which designs and builds battery electric vehicles, including trucks and aircraft. The company also creates all-electric delivery trucks and drone systems.
Get a Free Copy of Zacks Research Report on Workhorse Group (WKHS)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Workhorse Group right now?
Before you consider Workhorse Group, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Workhorse Group wasn’t on the list.
Although Workhorse Group currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here