Workhorse Group (NASDAQ:WKHS) Reaches New 1-Year High at $24.50

Workhorse Group Inc (NASDAQ:WKHS) hit a new 52-week high during trading on Monday . The stock traded as high as $24.50 and last traded at $23.64, with a volume of 56254 shares. The stock had previously closed at $23.69.

WKHS has been the subject of several recent analyst reports. Roth Capital boosted their price target on shares of Workhorse Group from $12.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, July 13th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Workhorse Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 7th. ValuEngine lowered shares of Workhorse Group from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. BidaskClub raised shares of Workhorse Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 24th. Finally, Dougherty & Co assumed coverage on shares of Workhorse Group in a report on Thursday, May 28th. They set a “buy” rating and a $4.50 target price for the company. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Workhorse Group currently has an average rating of “Buy” and a consensus target price of $17.00.

The firm’s 50-day moving average price is $17.74 and its two-hundred day moving average price is $8.57. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -13.70 and a beta of 2.82.

Workhorse Group (NASDAQ:WKHS) last posted its earnings results on Monday, August 10th. The company reported ($1.76) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($1.64). The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.30 million. As a group, equities analysts expect that Workhorse Group Inc will post -0.44 earnings per share for the current year.

In other news, Director Raymond Joseph Chess sold 4,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $15.32, for a total transaction of $61,280.00. Following the completion of the transaction, the director now directly owns 153,243 shares in the company, valued at $2,347,682.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Duane Hughes sold 62,513 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $16.52, for a total value of $1,032,714.76. Following the completion of the sale, the chief executive officer now owns 347,589 shares in the company, valued at approximately $5,742,170.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 733,798 shares of company stock valued at $13,102,832. 5.90% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Citigroup Inc. grew its holdings in Workhorse Group by 298.7% during the 1st quarter. Citigroup Inc. now owns 19,288 shares of the company’s stock worth $35,000 after acquiring an additional 14,450 shares in the last quarter. US Bancorp DE purchased a new stake in Workhorse Group in the second quarter valued at $35,000. Creative Planning grew its position in shares of Workhorse Group by 75.1% during the first quarter. Creative Planning now owns 21,645 shares of the company’s stock worth $39,000 after acquiring an additional 9,280 shares during the last quarter. Captrust Financial Advisors purchased a new position in Workhorse Group during the 2nd quarter worth $40,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Workhorse Group by 78.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,475 shares of the company’s stock valued at $42,000 after acquiring an additional 10,300 shares during the last quarter. 21.43% of the stock is currently owned by hedge funds and other institutional investors.

Workhorse Group Company Profile (NASDAQ:WKHS)

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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