Workhorse Group Inc (NASDAQ:WKHS) major shareholder Joseph Theodore Lukens, Jr. sold 500,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $18.40, for a total transaction of $9,200,000.00. Following the completion of the transaction, the insider now owns 1,500,000 shares of the company’s stock, valued at approximately $27,600,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
NASDAQ:WKHS opened at $15.18 on Monday. Workhorse Group Inc has a twelve month low of $1.32 and a twelve month high of $22.90. The company has a 50-day moving average of $7.38 and a 200-day moving average of $3.91. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -21.69 and a beta of 2.64.
Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.19. The business had revenue of $0.08 million for the quarter. As a group, equities analysts forecast that Workhorse Group Inc will post -0.34 earnings per share for the current year.
WKHS has been the subject of a number of recent analyst reports. BTIG Research increased their target price on shares of Workhorse Group from $10.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Cowen increased their target price on shares of Workhorse Group from $4.50 to $11.50 and gave the company an “outperform” rating in a research report on Friday, June 26th. ValuEngine lowered shares of Workhorse Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Dougherty & Co initiated coverage on shares of Workhorse Group in a research report on Thursday, May 28th. They issued a “buy” rating and a $4.50 target price for the company. Finally, Roth Capital increased their target price on shares of Workhorse Group from $4.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $13.50.
A number of hedge funds have recently bought and sold shares of the business. Joseph P. Lucia & Associates LLC lifted 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 valued at $47,000 after buying an additional 2,200 shares in the last quarter. Farmers Trust Co. purchased a new stake in Workhorse Group during the second quarter valued at about $223,000. State Street Corp lifted its stake in Workhorse Group by 293.5% during the first quarter. State Street Corp now owns 682,353 shares of the company’s stock valued at $1,235,000 after buying an additional 508,935 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in Workhorse Group during the first quarter valued at about $147,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Workhorse Group in the first quarter worth approximately $185,000. 22.39% of the stock is 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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