Short Interest in Workhorse Group Inc. (NASDAQ:WKHS) Grows By 26.1%

Workhorse Group Inc. (NASDAQ:WKHS) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 9,270,000 shares, an increase of 26.1% from the January 15th total of 7,350,000 shares. Based on an average daily volume of 3,750,000 shares, the short-interest ratio is presently 2.5 days. Currently, 23.1% of the company’s stock are short sold.

Institutional Trading of Workhorse Group

Several institutional investors and hedge funds have recently bought and sold shares of WKHS. Jane Street Group LLC grew its stake in Workhorse Group by 91.6% in the third quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock valued at $35,000 after purchasing an additional 19,473 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Workhorse Group in the 3rd quarter valued at approximately $51,000. Cubist Systematic Strategies LLC bought a new position in shares of Workhorse Group in the second quarter valued at $55,000. Swedbank AB increased its holdings in Workhorse Group by 46.2% during the fourth quarter. Swedbank AB now owns 95,796 shares of the company’s stock worth $67,000 after buying an additional 30,294 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Workhorse Group by 17.4% during the fourth quarter. Geode Capital Management LLC now owns 332,561 shares of the company’s stock worth $232,000 after acquiring an additional 49,291 shares in the last quarter. Institutional investors own 15.98% of the company’s stock.

Workhorse Group Price Performance

NASDAQ:WKHS traded down $0.01 on Friday, hitting $0.58. 2,113,406 shares of the company’s stock were exchanged, compared to its average volume of 2,742,393. The firm has a 50-day moving average price of $0.71 and a 200-day moving average price of $0.85. Workhorse Group has a 52 week low of $0.46 and a 52 week high of $8.18. The company has a market cap of $23.64 million, a P/E ratio of -0.07 and a beta of 2.67.

Analyst Upgrades and Downgrades

WKHS has been the subject of a number of research reports. TD Cowen increased their price objective on Workhorse Group from $0.25 to $1.25 and gave the stock a “hold” rating in a report on Wednesday, November 20th. StockNews.com raised shares of Workhorse Group to a “sell” rating in a research note on Friday, January 10th.

Workhorse Group Company Profile

Workhorse Group Inc, a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers commercial vehicles under the Workhorse brand. The company was formerly known as AMP Holding Inc and changed its name to Workhorse Group Inc in April 2015.