Workhorse Grp Down 11.44% To $0.28 After Earnings Miss

Workhorse Grp (WKHS) said before open Tuesday that it lost $0.19 per share in quarter four 2023.

On the revenue line, the company reported $4.4 million, beating estimates by $1.2 million.

In the same quarter a year ago, the company lost $0.24 per share on revenue of $3.4 million.

The stock is down 11.44% to $0.28 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Workhorse Grp has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 10, putting Workhorse Grp in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $0.23 on February 8, 2024 and set a 52-week high on March 14, 2023 at $1.62.

Workhorse Group Inc is a technology company. It designs, develops, manufactures and sells high-performance, medium-duty trucks with powertrain components under the Workhorse chassis brand. The company's products include trucks comprising powertrain and chassis. Its powertrain products include E-GEN and E-100. E-GEN is an electric drive, transmission-free system, which has a gasoline/propane or compressed natural gas (CNG) engine that functions as an auxiliary generator. E-100, an all-electric, medium-duty truck, is an electric power train. The company generates key revenue from the Automotive Revenue which consists of sales of any of its E-GEN or E-100 platforms.