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

Workhorse Group Inc. (NASDAQ:WKHS) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 8,100,000 shares, a growth of 35.5% from the December 31st total of 5,980,000 shares. Currently, 20.2% of the company’s stock are sold short. Based on an average daily trading volume, of 3,220,000 shares, the days-to-cover ratio is presently 2.5 days.

Workhorse Group Stock Down 1.4 %

Shares of NASDAQ WKHS opened at $0.52 on Friday. The company has a market capitalization of $21.14 million, a PE ratio of -0.06 and a beta of 2.70. The stock’s 50 day moving average price is $0.82 and its 200-day moving average price is $0.93. Workhorse Group has a twelve month low of $0.49 and a twelve month high of $8.18.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Swedbank AB increased its position in shares of Workhorse Group by 46.2% during the 4th quarter. Swedbank AB now owns 95,796 shares of the company’s stock valued at $67,000 after purchasing an additional 30,294 shares during the last quarter. Virtu Financial LLC bought a new position in Workhorse Group during the third quarter valued at about $51,000. Geode Capital Management LLC increased its holdings in Workhorse Group by 76.9% during the third quarter. Geode Capital Management LLC now owns 283,270 shares of the company’s stock worth $246,000 after buying an additional 123,150 shares during the last quarter. Jane Street Group LLC increased its holdings in Workhorse Group by 91.6% during the third quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock worth $35,000 after buying an additional 19,473 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Workhorse Group in the second quarter worth about $55,000. Hedge funds and other institutional investors own 15.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WKHS shares. StockNews.com upgraded Workhorse Group to a “sell” rating in a research note on Friday, January 10th. TD Cowen increased their target price on shares of Workhorse Group from $0.25 to $1.25 and gave the company a “hold” rating in a report on Wednesday, November 20th.

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.