Stock News in Focus: Workhorse Group Inc. (NASDAQ:WKHS)

Workhorse Group Inc. (NASDAQ:WKHS) stock identified change of 70.24% away from 52-week low price and recently located move of -79.75% off 52-week high price. It has market worth of $39.43M. WKHS stock has been recorded -29.01% away from 50 day moving average and -39.00% away from 200 day moving average. Moving closer, we can see that shares have been trading -20.33% off 20-day moving average.

Workhorse Group Inc. (NASDAQ: WKHS) reported that ih has entered into an amended agreement with Marathon Asset Management (“Marathon”) in connection with its previously announced $35 million financing.

Among other updates, under the terms of the amended agreement, the deadline for the Company’s $4.0 million minimum liquidity covenant has been extended from March 31, 2019 to April 30, 2019.

Company CEO Duane Hughes said “Marathon continues to be a supportive partner for Workhorse who recognizes the value our business can create with the right plan in place”. “Through our improved capital structure provided by Marathon, Workhorse  is working constructively to put the company in the best financial condition possible to execute on its near- and long-term goals of delivering trucks to UPS, DHL and many others this year.  Both companies are excited about the future of an all-electric truck and depot for the last mile delivery sector.”

Marathon, based in New York, NY, is an opportunistic global credit manager with approximately $16 billion in assets under management. The firm pursues opportunities  through a broad spectrum of investments in global corporate credit, distressed and special situational credit, structured credit, private credit, emerging markets and leveraged loans. A perfect fit for Workhorse’s needs, Marathon is uniquely positioned to quickly provide innovative financing solutions that fit within Workhorse’s existing capital structure and its business objectives.

 The Consumer Goods sector company, Workhorse Group Inc. noticed change of -4.59% to $0.63 along volume of 149703 shares in recent session compared to an average volume of 321.05K. The stock observed return of -9.21% in 5 days trading activity. The stock was at -34.39% over one month performance. WKHS’s shares are at -3.11% for the quarter and driving a -75.59% return over the course of the past year and is now at 19.30% since this point in 2018. 

 The average volatility for the week at 10.69% and for month was at 9.69%. There are 62.6M shares outstanding and 48.32M shares are floated in market. Right now the stock beta is 1.17. 

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