Workhorse Group Inc. (NASDAQ:WKHS) Receives Consensus Recommendation of "Hold" from Analysts

Last updated on Tuesday, July 27, 2021 | 2021 MarketBeat

Workhorse Group Inc. (NASDAQ:WKHS) has earned an average rating of "Hold" from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $18.90.

A number of brokerages have recently weighed in on WKHS. Zacks Investment Research lowered Workhorse Group from a "hold" rating to a "sell" rating in a research note on Wednesday, May 12th. Cowen lowered Workhorse Group from an "outperform" rating to a "market perform" rating and set a $13.00 price target on the stock. in a research note on Friday, June 4th. Roth Capital cut their price objective on Workhorse Group from $15.00 to $8.50 and set a "neutral" rating on the stock in a report on Monday, May 10th. B. Riley began coverage on Workhorse Group in a report on Friday, April 16th. They set a "buy" rating and a $20.00 target price on the stock. Finally, TheStreet lowered Workhorse Group from a "c-" rating to a "d" rating in a research report on Wednesday, June 2nd.

In related news, Director Raymond Joseph Chess sold 5,000 shares of the stock in a transaction on Monday, May 17th. The stock was sold at an average price of $8.00, for a total value of $40,000.00. Following the transaction, the director now owns 117,008 shares of the company's stock, valued at $936,064. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of WKHS. Robeco Schweiz AG purchased a new stake in shares of Workhorse Group during the first quarter worth about $54,667,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Workhorse Group during the first quarter valued at approximately $31,671,000. ARK Investment Management LLC increased its position in shares of Workhorse Group by 116.4% during the first quarter. ARK Investment Management LLC now owns 3,999,408 shares of the company's stock valued at $55,072,000 after acquiring an additional 2,151,192 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Workhorse Group during the first quarter valued at approximately $17,132,000. Finally, Morgan Stanley increased its position in shares of Workhorse Group by 263.2% during the fourth quarter. Morgan Stanley now owns 821,629 shares of the company's stock valued at $16,252,000 after acquiring an additional 595,380 shares in the last quarter. Institutional investors own 45.48% of the company's stock.

Shares of Workhorse Group stock opened at $11.40 on Tuesday. Workhorse Group has a 1 year low of $7.07 and a 1 year high of $42.96. The stock has a 50-day simple moving average of $12.77. The company has a market capitalization of $1.41 billion, a P/E ratio of -31.67 and a beta of 2.71. The company has a quick ratio of 24.88, a current ratio of 26.63 and a debt-to-equity ratio of 0.66.

Workhorse Group (NASDAQ:WKHS) last issued its quarterly earnings results on Monday, May 10th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.85). Workhorse Group had a negative net margin of 3,032.13% and a negative return on equity of 127.42%. The company had revenue of $0.52 million for the quarter, compared to analyst estimates of $2.38 million. On average, equities research analysts expect that Workhorse Group will post -1.57 EPS for the current fiscal year.

About Workhorse Group

Workhorse Group Inc, a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States. 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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Analyst Recommendations for Workhorse Group (NASDAQ:WKHS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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