Workhorse Group, Inc. (NASDAQ:WKHS) Sees Large Growth in Short Interest

Workhorse Group, Inc. (NASDAQ:WKHS) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 2,940,000 shares, anincreaseof1,333.4% from the June 30th total of 205,100 shares. Based on an average daily volume of 3,140,000 shares, the short-interest ratio is presently 0.9 days. Currently,31.2% of the shares of the stock are sold short. Currently,31.2% of the shares of the stock are sold short. Based on an average daily volume of 3,140,000 shares, the short-interest ratio is presently 0.9 days.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Workhorse Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

Institutional Investors Weigh In On Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC raised its holdings in shares of Workhorse Group, Inc. (NASDAQ:WKHS) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,561 shares of the company’s stock after buying an additional 49,291 shares during the quarter. Geode Capital Management LLC owned about 0.81% of Workhorse Group worth $232,000 as of its most recent SEC filing. Institutional investors own 15.98% of the company’s stock.

Workhorse Group Stock Performance

Shares of NASDAQ WKHS opened at $1.65 on Friday. The firm has a market cap of $15.63 million, a PE ratio of -0.02 and a beta of 2.62. The firm has a fifty day moving average of $1.52 and a 200 day moving average of $2.85. Workhorse Group has a one year low of $0.81 and a one year high of $24.25.

Workhorse Group (NASDAQ:WKHS) last released its earnings results on Thursday, May 15th. The company reported ($4.10) EPS for the quarter, missing analysts’ consensus estimates of ($4.00) by ($0.10). The company had revenue of $0.64 million for the quarter, compared to analysts’ expectations of $2.00 million. Workhorse Group had a negative return on equity of 194.02% and a negative net margin of 1,576.17%. On average, equities analysts predict that Workhorse Group will post -3.8 EPS for the current fiscal year.

About Workhorse Group

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.