Workhorse Group (NASDAQ:WKHS) Cut to “Sell” at Zacks Investment Research

Workhorse Group (NASDAQ:WKHS – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Zacks.com reports.

According to Zacks, “Workhorse Group Inc. is engaged in designing, developing, manufacturing and selling medium-duty trucks. The Company’s products include trucks comprising powertrain and chassis. Powertrain includes E-GEN and AMP E-100. Chassis include W88, W22, W42 and W62. Workhorse Group Inc., formerly known as AMP Holding Inc., is based in Loveland, United States. “

Several other equities research analysts have also recently commented on the stock. B. Riley cut their price objective on shares of Workhorse Group from $7.00 to $6.00 in a research report on Wednesday, March 2nd. Roth Capital raised shares of Workhorse Group from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Wednesday, March 2nd. UBS Group raised shares of Workhorse Group to a “buy” rating in a research report on Wednesday, March 2nd. Finally, R. F. Lafferty raised shares of Workhorse Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $4.00 to $6.00 in a research report on Thursday, March 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.92.

Shares of NASDAQ WKHS traded up $0.27 during midday trading on Friday, reaching $2.82. 5,568,204 shares of the stock were exchanged, compared to its average volume of 5,152,497. The business has a 50-day simple moving average of $3.72 and a two-hundred day simple moving average of $4.36. The company has a market capitalization of $427.74 million, a price-to-earnings ratio of -1.18 and a beta of 2.94. Workhorse Group has a 12 month low of $2.11 and a 12 month high of $18.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.78 and a quick ratio of 7.48.

Workhorse Group (NASDAQ:WKHS – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). During the same period in the prior year, the company earned ($1.04) EPS. Equities research analysts expect that Workhorse Group will post -0.55 earnings per share for the current fiscal year.

In other Workhorse Group news, Director Pamela S. Mader purchased 12,600 shares of the stock in a transaction on Tuesday, March 15th. The shares were purchased at an average cost of $3.18 per share, for a total transaction of $40,068.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders acquired a total of 20,600 shares of company stock worth $67,328 over the last quarter. Company insiders own 4.06% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. CastleArk Alternatives LLC increased its stake in shares of Workhorse Group by 100.0% during the 3rd quarter. CastleArk Alternatives LLC now owns 4,140 shares of the company’s stock worth $32,000 after purchasing an additional 2,070 shares during the last quarter. Exane Derivatives bought a new stake in shares of Workhorse Group during the 1st quarter worth about $33,000. Point72 Hong Kong Ltd bought a new stake in shares of Workhorse Group during the 3rd quarter worth about $55,000. Castleark Management LLC boosted its holdings in shares of Workhorse Group by 82.1% during the 4th quarter. Castleark Management LLC now owns 7,540 shares of the company’s stock worth $33,000 after buying an additional 3,400 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its holdings in shares of Workhorse Group by 145.8% during the 4th quarter. Itau Unibanco Holding S.A. now owns 9,096 shares of the company’s stock worth $41,000 after buying an additional 5,396 shares during the period. Institutional investors own 33.80% of the company’s stock.

About Workhorse Group (Get Rating)

Workhorse Group Inc, a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers electric and range-extended medium-duty delivery trucks under the Workhorse brand; and HorseFly Unmanned Aerial System, a custom-designed purpose-built all-electric drone system.

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