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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