Workhorse Group (NASDAQ:WKHS) Stock Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Workhorse Group Inc. (NASDAQ:WKHS)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.03 and traded as low as $0.73. Workhorse Group shares last traded at $0.76, with a volume of 3,550,306 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. TD Cowen increased their price objective on shares of Workhorse Group from $0.25 to $1.25 and gave the company a “hold” rating in a research note on Wednesday, November 20th. StockNews.com upgraded shares of Workhorse Group to a “sell” rating in a research report on Friday.

Workhorse Group Stock Down 6.7 %

The firm has a market cap of $31.29 million, a price-to-earnings ratio of -0.10 and a beta of 2.70. The business has a 50 day moving average of $0.95 and a 200 day moving average of $1.03.

Institutional Investors Weigh In On Workhorse Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. acquired a new stake in Workhorse Group during the second quarter worth approximately $69,000. Cubist Systematic Strategies LLC purchased a new position in shares of Workhorse Group during the 2nd quarter worth $55,000. Jane Street Group LLC lifted its stake in shares of Workhorse Group by 91.6% during the 3rd quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock worth $35,000 after purchasing an additional 19,473 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Workhorse Group by 76.9% during the third quarter. Geode Capital Management LLC now owns 283,270 shares of the company’s stock worth $246,000 after purchasing an additional 123,150 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Workhorse Group in the third quarter valued at $51,000. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

About Workhorse Group

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.