Maxim Group Thinks Workhorse Group’s Stock is Going to Recover

In a report released today, Brian Kinstlinger from Maxim Group maintained a Buy rating on Workhorse Group (NASDAQ: WKHS), with a price target of $5. The company’s shares opened today at $2.70, close to its 52-week low of $1.85.

Kinstlinger noted:

“WKHS delivered 73 vehicles in 3Q17, which is the most ever in a quarter as production rates improved and UPS increased demand.”

According to TipRanks.com, Kinstlinger is a 3-star analyst with an average return of 1.8% and a 51.7% success rate. Kinstlinger covers the Technology sector, focusing on stocks such as Helios & Matheson North America Inc, Applied DNA Sciences, and Caci International.

Workhorse Group has an analyst consensus of Moderate Buy, with a price target consensus of $5.13.

Based on Workhorse Group’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $270K and GAAP net loss of $9.2 million. In comparison, last year the company earned revenue of $1.91 million and had a GAAP net loss of $5.26 million.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WKHS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Workhorse Group, Inc. engages in the designing, developing, manufacturing, and selling of trucks with powertrain components under the workhorse proven chassis brand. It focuses on providing solutions to the commercial transportation sector. The company was founded on February 20, 2007 and is headquartered in Loveland, OH.

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