A company insider recently bought 12,600 shares of Workhorse Group Inc. [WKHS]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Workhorse Group Inc. shares valued at $40,050 were purchased by Mader Pamela S. on Mar 15. At $3.18 per share, Mader Pamela S. acquired 12,600 shares. The insider’s holdings grew to 53,508 shares worth approximately $0.24 million following the completion of this transaction.


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Also, DAUCH RICHARD F purchased 50,000 shares, netting a total of over 155,000 in proceeds. Following the buying of shares at $3.10 each, the insider now holds 1,955,115 shares.

Before that, March Stanley Raymond had added 15,000 shares to its account. In a trade valued at $47,700, the VP, Business Development bought Workhorse Group Inc. shares for $3.18 each. Upon closing the transaction, the insider’s holdings increased to 15,000 shares, worth approximately $0.19 million.

As published in a research note from R. F. Lafferty on March 03, 2022, Workhorse Group Inc. [WKHS] has been rated up from a Hold to a Buy and the price target has been revised to $6 from $4. This represents a 25.17% premium over Thursday’s closing price. Analysts at ROTH Capital upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early March. Earlier on August 11, 2021, DA Davidson initiated its rating. Their recommendation was “a Neutral” for WKHS stock.

Analyzing WKHS’s Price Performance

On Thursday, Workhorse Group Inc. [NASDAQ: WKHS] rose 10.59% to $4.49. The stock’s lowest price that day was $4.0201, but it reached a high of $4.57 in the same session. During the last five days, there has been a surge of approximately 39.88%. Over the course of the year, Workhorse Group Inc. shares have jumped approximately 2.98%. Shares of the company reached a 52-week high of $5.39 on 04/05/22 and a 52-week low of $2.11 on 05/12/22. A 50-day SMA is recorded $3.00, while a 200-day SMA reached $4.04. Nevertheless, trading volume fell to 8.4 million shares from 6.22 million shares the previous day.

Support And Resistance Levels for Workhorse Group Inc. (WKHS)

According to the 24-hour chart, there is a support level at 4.15, which, if violated, would cause prices to drop to 3.81. In the upper region, resistance lies at 4.70. The next price resistance is at 4.91. RSI (Relative Strength Index) is 75.17 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.74, which suggests the price will decrease in the coming days. Percent R is at 4.55%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Workhorse Group Inc. subject to short interest?

Stocks of Workhorse Group Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.02 million shares to 43.52 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 40.5 million shares. A jump of 6.94% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 10.27 of the overall float, the days-to-cover ratio (short ratio) jumped to 10.27.

Which companies own the most shares of Workhorse Group Inc. (WKHS)?

According to BlackRock Fund Advisors filings, the company currently owns 8,768,669 shares, which is about 5.36% of the total WKHS shares outstanding. The investor’s shares have appreciated by 1,249,124 from its previous 13-F filing of 7519545.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $17,554,815. Invesco Capital Management LLC acquire a 0.76% interest valued at $10.8 million while SSgA Funds Management, Inc. purchased a 227,012 stake. A total of 629,750 shares of Workhorse Group Inc. were bought by Geode Capital Management LLC during the quarter, and 323,152 were bought by Susquehanna Financial Group LLLP. In its current portfolio, D. E. Shaw & Co. LP holds 1,858,378 shares valued at $4.83 million.

In terms of Workhorse Group Inc. share price expectations, FactSet research, analysts set an average price target of $6.33 in the next 12 months, up nearly 47.78% from the previous closing price of $4.06. Analysts anticipate Workhorse Group Inc. stock to reach $11.00 by 2022, with the lowest price target being $3.00. In spite of this, 7 analysts ranked Workhorse Group Inc. stock as an Overweight at the end of 2022. On June 04, 2021, Cowen assigned a price target of “a Market perform” to the stock and downgraded coverage with a $13.

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