Workhorse Group Inc. (NASDAQ:WKHS) gapped down prior to trading on Wednesday . The stock had previously closed at $8.45, but opened at $8.28. Workhorse Group shares last traded at $8.20, with a volume of 22,605 shares.
Several research firms recently issued reports on WKHS. Cowen cut their target price on Workhorse Group from $13.00 to $8.50 and set a “market perform” rating on the stock in a research note on Thursday, July 29th. DA Davidson assumed coverage on shares of Workhorse Group in a report on Tuesday, August 10th. They issued a “neutral” rating and a $10.00 price objective for the company. TheStreet lowered shares of Workhorse Group from a “c-” rating to a “d” rating in a report on Wednesday, June 2nd. B. Riley lowered their target price on shares of Workhorse Group from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, August 10th. Finally, Colliers Securities reissued a “neutral” rating on shares of Workhorse Group in a research report on Thursday, July 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.14.
The company has a debt-to-equity ratio of 0.90, a quick ratio of 21.65 and a current ratio of 24.46. The firm has a market cap of $1.04 billion, a P/E ratio of 8.05 and a beta of 2.69. The business’s 50-day simple moving average is $10.30 and its 200 day simple moving average is $12.16.
Several hedge funds have recently modified their holdings of the company. Newbridge Financial Services Group Inc. lifted its stake in shares of Workhorse Group by 336.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 6,660 shares of the company’s stock valued at $110,000 after buying an additional 5,135 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Workhorse Group by 137.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 83,583 shares of the company’s stock valued at $1,387,000 after buying an additional 48,455 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Workhorse Group during the 2nd quarter valued at $239,000. Morgan Stanley lifted its stake in shares of Workhorse Group by 271.7% during the 2nd quarter. Morgan Stanley now owns 1,914,426 shares of the company’s stock valued at $31,761,000 after buying an additional 1,399,402 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Workhorse Group by 9.9% during the 2nd quarter. Wells Fargo & Company MN now owns 560,368 shares of the company’s stock valued at $9,297,000 after buying an additional 50,628 shares in the last quarter. 38.78% of the stock is owned by hedge funds and other institutional investors.
Workhorse Group Company Profile (NASDAQ:WKHS)
Workhorse Group, Inc is a technology company, which engages in the provision of sustainable solutions to the commercial transportation sector. It operates as an original equipment manufacturer, which designs and builds battery-electric vehicles including trucks and aircraft. The firm also creates all-electric delivery trucks and drone systems.
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