Workhorse Group, Inc. (NASDAQ:WKHS) was the recipient of a significant growth in short interest in the month of July. As of July 14th, there was short interest totalling 3,133,327 shares, a growth of 30.6% from the June 30th total of 2,398,742 shares. Based on an average daily volume of 445,247 shares, the short-interest ratio is presently 7.0 days. Approximately 13.4% of the shares of the stock are sold short.
A number of equities analysts have issued reports on the stock. Cowen and Company initiated coverage on shares of Workhorse Group in a research report on Thursday. They set an “outperform” rating and a $5.25 target price for the company. Maxim Group set a $5.00 target price on shares of Workhorse Group and gave the stock a “buy” rating in a research report on Wednesday, August 9th.
Workhorse Group (WKHS) opened at 2.95 on Friday. The company has a 50-day moving average of $2.89 and a 200-day moving average of $2.94. The company’s market cap is $110.11 million. Workhorse Group has a 12 month low of $1.85 and a 12 month high of $10.30.
Workhorse Group (NASDAQ:WKHS) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. Workhorse Group had a negative net margin of 419.92% and a negative return on equity of 290.34%. The business had revenue of $0.27 million for the quarter. Analysts predict that Workhorse Group will post ($0.93) EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new position in shares of Workhorse Group during the second quarter worth approximately $122,000. CWH Capital Management Inc. increased its stake in Workhorse Group by 4.2% in the second quarter. CWH Capital Management Inc. now owns 709,425 shares of the company’s stock worth $2,618,000 after buying an additional 28,425 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Workhorse Group by 74.8% in the second quarter. Goldman Sachs Group Inc. now owns 77,209 shares of the company’s stock valued at $285,000 after buying an additional 33,040 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Workhorse Group during the second quarter valued at $166,000. Finally, Glenview Trust Co boosted its position in shares of Workhorse Group by 28.6% in the second quarter. Glenview Trust Co now owns 37,500 shares of the company’s stock worth $138,000 after buying an additional 8,333 shares during the last quarter. 15.42% of the stock is currently owned by institutional investors and hedge funds.
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Workhorse Group Company Profile
Workhorse Group, Inc, formerly AMP Holding Inc, is a development-stage company. The Company designs, develops, manufactures and sells medium-duty trucks with powertrain components under the Workhorse chassis brand. The Company’s products include trucks comprising powertrain and chassis. Its powertrain products include E-GEN and E-100.
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