Workhorse Group (NASDAQ:WKHS) Announces Quarterly Earnings Results, Misses Estimates By $0.91 EPS

Workhorse Group (NASDAQ:WKHS) posted its quarterly earnings results on Thursday. The company reported ($1.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.91), FiscalAI reports. The business had revenue of $3.56 million for the quarter, compared to analyst estimates of $5.33 million. Workhorse Group had a negative return on equity of 255.45% and a negative net margin of 299.18%.

Workhorse Group Price Performance

WKHS stock traded down $0.05 during midday trading on Thursday, reaching $3.04. 232,586 shares of the company’s stock traded hands, compared to its average volume of 141,115. The company has a 50-day simple moving average of $2.94 and a two-hundred day simple moving average of $3.25. The company has a quick ratio of 0.25, a current ratio of 1.23 and a debt-to-equity ratio of 0.22. Workhorse Group has a 1-year low of $2.31 and a 1-year high of $26.40. The company has a market cap of $33.11 million, a price-to-earnings ratio of -0.10 and a beta of 2.57.

Institutional Trading of Workhorse Group

A hedge fund recently raised its position in Workhorse Group stock. Geode Capital Management LLC boosted its position in shares of Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,684 shares of the company’s stock after purchasing an additional 11,073 shares during the quarter. Geode Capital Management LLC owned about 0.47% of Workhorse Group worth $49,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 15.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WKHS. Wall Street Zen downgraded shares of Workhorse Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised shares of Workhorse Group from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

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.