Workhorse Group (NASDAQ:WKHS) Stock Passes Below 50 Day Moving Average of $3.18

Workhorse Group Inc. (NASDAQ:WKHSGet Free Report)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.18 and traded as low as $1.29. Workhorse Group shares last traded at $1.34, with a volume of 967,207 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WKHS shares. DA Davidson lowered their price target on shares of Workhorse Group from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, April 1st. R. F. Lafferty reissued a “sell” rating on shares of Workhorse Group in a research report on Wednesday, March 13th.

Check Out Our Latest Stock Report on Workhorse Group

Workhorse Group Trading Down 1.5 %

The business’s 50-day simple moving average is $3.18 and its 200-day simple moving average is $4.69. The company has a market capitalization of $25.14 million, a PE ratio of -0.12 and a beta of 2.57.

Workhorse Group (NASDAQ:WKHSGet Free Report) last posted its earnings results on Monday, May 20th. The company reported ($2.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.40). The business had revenue of $1.34 million for the quarter, compared to analyst estimates of $3.00 million. Workhorse Group had a negative net margin of 1,005.23% and a negative return on equity of 138.20%. Sell-side analysts forecast that Workhorse Group Inc. will post -6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WKHS. Sequoia Financial Advisors LLC grew its position in shares of Workhorse Group by 99.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 100,101 shares of the company’s stock valued at $36,000 after acquiring an additional 50,000 shares during the period. Belpointe Asset Management LLC boosted its position in Workhorse Group by 183.3% during the fourth quarter. Belpointe Asset Management LLC now owns 100,000 shares of the company’s stock worth $36,000 after purchasing an additional 64,700 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Workhorse Group by 83.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock valued at $78,000 after purchasing an additional 149,960 shares during the period. Vanguard Group Inc. increased its position in shares of Workhorse Group by 4.6% in the first quarter. Vanguard Group Inc. now owns 10,323,640 shares of the company’s stock valued at $2,422,000 after buying an additional 453,085 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Workhorse Group during the 1st quarter valued at approximately $303,000. Hedge funds and other institutional investors own 15.98% of the company’s stock.

Workhorse Group Company Profile

(Get Free Report)

Workhorse Group Inc, a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers commercial vehicles under the Workhorse brand. The company was formerly known as AMP Holding Inc and changed its name to Workhorse Group Inc in April 2015.

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