As published in a research note from ROTH Capital on August 09, 2022, Workhorse Group Inc [WKHS] has been rated down from a Buy to a Neutral and the price target has been revised to $3.50 from $7. Analysts at R. F. Lafferty upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of March 02, 2022, ROTH Capital has increased its “Neutral” rating to a “Buy” for WKHS.
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Analyzing WKHS Stock Performance
During the last five days, there has been a drop of approximately -1.32%. Over the course of the year, Workhorse Group Inc shares have dropped approximately -35.58%. Shares of the company reached a 52-week high of $0.4090 on 02/21/24 and a 52-week low of $0.2009 on 03/25/24. A 50-day SMA is recorded $0.2782, while a 200-day SMA reached $0.5448. Nevertheless, trading volume fell to 26.31 million shares from 12.81 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 0.2171, which, if violated, would cause prices to drop to 0.2023. In the upper region, resistance lies at 0.2406. The next price resistance is at 0.2493. RSI (Relative Strength Index) is 40.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0311, which suggests the price will decrease in the coming days. Percent R is at 78.08%, indicating bearish price movement. Stochastics %K at buying 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 Feb 29, 2024 jumping by 3.92 million shares to 52.84 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 48.92 million shares. A jump of 7.42% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.97 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.97.
