Workhorse Group Inc (NASDAQ:WKHS) has been given a consensus recommendation of "Hold" by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.17.
WKHS has been the topic of a number of recent analyst reports. Colliers Secur. cut shares of Workhorse Group from a "buy" rating to a "neutral" rating and set a $11.00 price objective on the stock. in a research note on Thursday, July 9th. Oppenheimer initiated coverage on shares of Workhorse Group in a research report on Wednesday, September 2nd. They issued an "outperform" rating and a $23.00 price target on the stock. Zacks Investment Research cut shares of Workhorse Group from a "buy" rating to a "hold" rating in a research report on Tuesday, October 13th. BidaskClub cut shares of Workhorse Group from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Roth Capital cut shares of Workhorse Group from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $33.00 to $27.00 in a research report on Tuesday, October 13th.
In other Workhorse Group news, Director Harry Demott sold 50,000 shares of Workhorse Group stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $26.14, for a total transaction of $1,307,000.00. Following the transaction, the director now owns 58,499 shares of the company's stock, valued at approximately $1,529,163.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raymond Joseph Chess sold 4,000 shares of Workhorse Group stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $15.32, for a total value of $61,280.00. Following the transaction, the director now directly owns 153,243 shares in the company, valued at approximately $2,347,682.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 272,869 shares of company stock worth $6,336,206. Company insiders own 5.90% of the company's stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Central Bank & Trust Co. bought a new stake in shares of Workhorse Group in the 3rd quarter valued at approximately $25,000. Sound Income Strategies LLC bought a new stake in shares of Workhorse Group in the 3rd quarter valued at approximately $30,000. Citigroup Inc. grew its stake in shares of Workhorse Group by 298.7% in the 1st quarter. Citigroup Inc. now owns 19,288 shares of the company's stock valued at $35,000 after buying an additional 14,450 shares in the last quarter. US Bancorp DE bought a new stake in shares of Workhorse Group in the 2nd quarter valued at approximately $35,000. Finally, Captrust Financial Advisors bought a new stake in shares of Workhorse Group in the 2nd quarter valued at approximately $40,000. 21.43% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ WKHS opened at $20.34 on Friday. Workhorse Group has a fifty-two week low of $1.32 and a fifty-two week high of $30.99. The firm's 50-day simple moving average is $24.17 and its 200 day simple moving average is $12.90. The stock has a market cap of $2.14 billion, a P/E ratio of -10.99, a P/E/G ratio of 9.07 and a beta of 2.80.
Workhorse Group (NASDAQ:WKHS) last issued its quarterly earnings data on Monday, August 10th. The company reported ($1.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($1.64). The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.30 million. Analysts expect that Workhorse Group will post 0.07 EPS for the current year.
Workhorse Group Company Profile
Workhorse Group Inc designs, manufactures, builds, sells, and leases battery-electric vehicles and aircraft in the United States. It operates through two divisions, Automotive and Aviation. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.
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