Workhorse Group (NASDAQ:WKHS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.
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. “
WKHS has been the subject of several other research reports. B. Riley set a $4.00 price target on Workhorse Group and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Cowen dropped their price target on Workhorse Group from $5.50 to $4.00 and set an “outperform” rating for the company in a research report on Friday, July 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $4.67.
WKHS stock traded up $0.04 during midday trading on Friday, hitting $1.05. 138,478 shares of the stock were exchanged, compared to its average volume of 278,187. The stock has a market cap of $60.21 million, a PE ratio of -0.96 and a beta of -0.48. Workhorse Group has a fifty-two week low of $0.91 and a fifty-two week high of $3.45. The company has a debt-to-equity ratio of -0.33, a quick ratio of 0.06 and a current ratio of 0.39.
Workhorse Group (NASDAQ:WKHS) last released its quarterly earnings results on Monday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The company had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.20 million. Workhorse Group had a negative return on equity of 1,564.64% and a negative net margin of 403.52%. As a group, equities research analysts predict that Workhorse Group will post -0.83 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Workhorse Group by 1,165.6% during the second quarter. Bank of America Corp DE now owns 56,357 shares of the company’s stock worth $103,000 after buying an additional 51,904 shares in the last quarter. Cannell Peter B & Co. Inc. increased its position in Workhorse Group by 6.5% during the second quarter. Cannell Peter B & Co. Inc. now owns 1,122,439 shares of the company’s stock worth $2,043,000 after buying an additional 68,382 shares in the last quarter. Finally, First Manhattan Co. increased its position in Workhorse Group by 409.8% during the second quarter. First Manhattan Co. now owns 311,000 shares of the company’s stock worth $566,000 after buying an additional 250,000 shares in the last quarter. 8.02% of the stock is owned by institutional investors.
About Workhorse Group
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 system that enables fleet operators to optimize energy and route efficiency.
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