On March 13, 2024, analyst Jaime Perez of RF Lafferty made a bold move by downgrading Workhorse Group (NASDAQ: WKHS) from a Hold to a Sell rating, setting a low price target of $0.3. This unexpected shift in perspective indicates a major change in Perez’s opinion of the company’s future prospects.
Workhorse Group Inc. (WKHS) Stock Performance Analysis: March 13, 2024
On March 13, 2024, Workhorse Group Inc. (WKHS) experienced a slight drop in its stock performance. According to data from CNN Money, WKHS is currently trading in the middle of its 52-week range and below its 200-day simple moving average.
The price of WKHS shares decreased by $0.00 since the market last closed, representing a 1.38% drop in value. The stock opened at $0.28, which was $0.00 higher than its previous close.
Trading below its 200-day moving average suggests that the stock may be experiencing a downward trend in the longer term.
Investors should conduct thorough research and analysis before making any investment decisions, considering factors such as company news, market trends, and financial performance. Consult with a financial advisor before making any investment decisions. Stay informed and cautious when navigating the stock market.
Workhorse Group Inc. (WKHS) Financial Performance Analysis: Revenue Growth and Losses Highlighted
Workhorse Group Inc. (WKHS) has been making headlines in the stock market recently, with investors closely watching its performance. On March 13, 2024, the company reported total revenue of $13.09 million for the past year, which is a significant increase of 160.69% compared to the previous year. However, the total revenue remained flat at $4.41 million for the last quarter.
Workhorse Group Inc. reported a net loss of $123.92 million for the past year, which is a decrease of 5.67% compared to the previous year. The net loss for the last quarter was $45.26 million, showing a significant decrease of 47.68% compared to the previous quarter.
Earnings per share (EPS) for Workhorse Group Inc. were reported at -$0.60 for the past year, which is an increase of 19.16% compared to the previous year. The EPS for the last quarter was -$0.16, showing no change compared to the previous quarter.
Overall, Workhorse Group Inc. has shown significant growth in total revenue over the past year, but has also reported increasing losses. Despite the improvements in EPS, the company still has a long way to go in terms of profitability.
Investors will be closely monitoring Workhorse Group Inc.’s performance in the coming months to see if the company can turn its revenue growth into sustainable profitability. The stock market response to these financial results will be indicative of investor confidence in the company’s future prospects.
