Benzinga - by Henry Khederian, Benzinga Editor.
Workhorse Group Inc (NASDAQ:WKHS) shares are trading lower by more than 6.5% to 25 cents at the close of Thursday’s session.
RF Lafferty analyst Jaime Perez on Wednesday downgraded the stock from Hold to Sell and announced a 30-cent price target.
Workhorse shares also fell earlier this week after the company reported fourth-quarter FY23 results. Sales rose to $4.4 million from $3.4 million, surpassing estimates, driven by increased vehicle sales and DaaS revenue. However, SG&A expenses increased to $15.1 million due to higher legal and professional fees.
How To Buy WKHS Stock By now you're likely curious about how to participate in the market for Workhorse — be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share.
For example, some stocks like Berkshire Hathaway, or Amazon.com Inc., can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the case of Workhorse, $100 would buy you 384.62 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource.
If your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading. Either way, it allows you to profit off of the share price decline.
According to data from Benzinga Pro, WKHS has a 52-week high of $1.56 and a 52-week low of 23 cents.
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