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Workhorse Group Inc (NASDAQ:WKHS) Director Sells $1,307,000.00 in Stock

Wednesday, September 30, 2020 | MarketBeat

Workhorse Group Inc (NASDAQ:WKHS) Director Harry Demott sold 50,000 shares of the company's stock in a transaction on Monday, September 28th. The stock was sold at an average price of $26.14, for a total value of $1,307,000.00. Following the sale, the director now owns 58,499 shares of the company's stock, valued at $1,529,163.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of NASDAQ:WKHS traded down $1.82 during trading on Wednesday, reaching $25.28. The stock had a trading volume of 22,717,987 shares, compared to its average volume of 13,384,679. The firm's fifty day moving average is $20.89 and its 200 day moving average is $10.37. Workhorse Group Inc has a 52 week low of $1.32 and a 52 week high of $30.99. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -13.66 and a beta of 2.82.

Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.76) EPS for the quarter, missing the Zacks' consensus estimate of ($0.12) by ($1.64). The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.30 million. As a group, research analysts predict that Workhorse Group Inc will post -0.44 earnings per share for the current year.

Several brokerages recently weighed in on WKHS. Colliers Secur. downgraded Workhorse Group from a "buy" rating to a "neutral" rating and set a $11.00 price objective for the company. in a research report on Thursday, July 9th. Cowen lifted their target price on shares of Workhorse Group from $4.50 to $11.50 and gave the stock an "outperform" rating in a research report on Friday, June 26th. BidaskClub lowered shares of Workhorse Group from a "strong-buy" rating to a "buy" rating in a report on Friday, September 25th. ValuEngine lowered shares of Workhorse Group from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Finally, Oppenheimer started coverage on shares of Workhorse Group in a report on Wednesday, September 2nd. They set an "outperform" rating and a $23.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Workhorse Group has a consensus rating of "Buy" and an average target price of $17.00.

Large investors have recently bought and sold shares of the company. Citigroup Inc. boosted 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 purchasing an additional 14,450 shares during the last quarter. US Bancorp DE bought a new stake in shares of Workhorse Group in the 2nd quarter valued at $35,000. Captrust Financial Advisors bought a new position in Workhorse Group during the second quarter worth $40,000. Cambridge Investment Research Advisors Inc. boosted its stake in Workhorse Group by 78.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,475 shares of the company's stock worth $42,000 after acquiring an additional 10,300 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC boosted its stake in Workhorse Group by 440.0% during the second quarter. Joseph P. Lucia & Associates LLC now owns 2,700 shares of the company's stock worth $47,000 after acquiring an additional 2,200 shares in the last quarter. 21.43% of the stock is currently owned by institutional investors.

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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Insider Buying and Selling by Quarter for Workhorse Group (NASDAQ:WKHS)

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