International Assets Investment Management LLC Takes $207,000 Position in Workhorse Group Inc (NASDAQ:WKHS)

International Assets Investment Management LLC acquired a new stake in Workhorse Group Inc (NASDAQ:WKHS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,900 shares of the company’s stock, valued at approximately $207,000.

Several other large investors have also recently bought and sold shares of WKHS. Arosa Capital Management LP lifted its position in shares of Workhorse Group by 3.9% during the 1st quarter. Arosa Capital Management LP now owns 2,025,377 shares of the company’s stock valued at $3,666,000 after acquiring an additional 75,309 shares during the period. First Manhattan Co. lifted its position in shares of Workhorse Group by 4.9% during the 1st quarter. First Manhattan Co. now owns 1,755,003 shares of the company’s stock valued at $3,176,000 after acquiring an additional 82,450 shares during the period. BlackRock Inc. lifted its position in shares of Workhorse Group by 2.5% during the 1st quarter. BlackRock Inc. now owns 1,152,247 shares of the company’s stock valued at $2,086,000 after acquiring an additional 28,302 shares during the period. Wells Fargo & Company MN lifted its position in shares of Workhorse Group by 0.6% during the 1st quarter. Wells Fargo & Company MN now owns 733,670 shares of the company’s stock valued at $1,328,000 after acquiring an additional 4,145 shares during the period. Finally, State Street Corp lifted its position in shares of Workhorse Group by 293.5% during the 1st quarter. State Street Corp now owns 682,353 shares of the company’s stock valued at $1,235,000 after acquiring an additional 508,935 shares during the period. 22.11% of the stock is currently owned by institutional investors.

Several research analysts have weighed in on WKHS shares. Zacks Investment Research downgraded shares of Workhorse Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 7th. ValuEngine downgraded shares of Workhorse Group from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Colliers Securities downgraded shares of Workhorse Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 9th. Dougherty & Co started coverage on shares of Workhorse Group in a report on Thursday, May 28th. They set a “buy” rating and a $4.50 price objective on the stock. Finally, BTIG Research upped their price objective on shares of Workhorse Group from $10.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Workhorse Group has a consensus rating of “Buy” and an average price target of $16.00.

Shares of WKHS stock opened at $16.41 on Thursday. The firm has a 50-day moving average of $10.50 and a 200-day moving average of $4.65. The company has a market cap of $1.15 billion, a P/E ratio of -23.44 and a beta of 2.64. Workhorse Group Inc has a one year low of $1.32 and a one year high of $22.90.

Workhorse Group (NASDAQ:WKHS) last announced its earnings results on Wednesday, May 6th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.19. The firm had revenue of $0.08 million during the quarter. On average, equities research analysts predict that Workhorse Group Inc will post -0.34 earnings per share for the current year.

In related news, major shareholder Joseph Theodore Lukens, Jr. purchased 36,765 shares of Workhorse Group stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average price of $2.82 per share, for a total transaction of $103,677.30. Following the completion of the transaction, the insider now owns 1,500,000 shares in the company, valued at $4,230,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the insider now owns 1,500,000 shares of the company’s stock, valued at approximately $27,600,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 679,798 shares of company stock valued at $12,155,552. 7.90% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Workhorse Group (NASDAQ:WKHS)

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