Workhorse Group (NASDAQ:WKHS) Stock Price Breaks Below 50 Day Moving Average – What’s Next?

Workhorse Group, Inc. (NASDAQ:WKHS)’s stock price passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $3.10 and traded as low as $2.88. Workhorse Group shares last traded at $2.92, with a volume of 58,562 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings upgraded Workhorse Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, September 10th. Wall Street Zen lowered Workhorse Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has a consensus rating of “Sell”.

Workhorse Group Trading Up 1.0%

The company has a market capitalization of $32.24 million, a price-to-earnings ratio of -0.24 and a beta of 2.62. The company has a quick ratio of 0.41, a current ratio of 1.28 and a debt-to-equity ratio of 0.82. The company’s 50 day simple moving average is $3.09 and its two-hundred day simple moving average is $3.02.

Workhorse Group (NASDAQ:WKHS) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.86) earnings per share (EPS) 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 business had revenue of $3.56 million for the quarter, compared to analyst estimates of $5.33 million.

About Workhorse Group

Workhorse Group Inc is an American technology company focused on developing and manufacturing battery-electric commercial vehicles for the last-mile delivery and work-truck markets. Its products are designed primarily for commercial fleets seeking to reduce fuel consumption, emissions and operating costs.

The company’s product portfolio has included electric step vans such as the W56, cab-chassis vehicles including the W4 CC, and other commercial platforms intended for delivery, service and utility applications.