Workhorse Group Inc. (NASDAQ:WKHS) Short Interest Update

Workhorse Group Inc. (NASDAQ:WKHS) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 2,740,000 shares, a drop of 94.8% from the May 31st total of 53,070,000 shares. Currently, 15.4% of the shares of the company are sold short. Based on an average daily volume of 880,400 shares, the short-interest ratio is currently 3.1 days.

Workhorse Group Stock Down 2.5 %

Shares of NASDAQ:WKHS opened at $1.57 on Friday. Workhorse Group has a 12-month low of $1.51 and a 12-month high of $27.20. The stock has a market cap of $29.45 million, a PE ratio of -0.15 and a beta of 2.96. The business has a 50 day moving average of $3.36 and a 200-day moving average of $4.90.

Workhorse Group (NASDAQ:WKHS) last issued its quarterly earnings data on Monday, May 20th. The company reported ($2.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.40). Workhorse Group had a negative return on equity of 138.20% and a negative net margin of 1,005.23%. The firm had revenue of $1.34 million for the quarter, compared to the consensus estimate of $3.00 million. Equities research analysts expect that Workhorse Group will post -6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WKHS shares. R. F. Lafferty reiterated a “sell” rating on shares of Workhorse Group in a report on Wednesday, March 13th. DA Davidson reduced their price objective on Workhorse Group from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, April 1st.

Institutional Investors Weigh In On Workhorse Group

A number of hedge funds and other institutional investors have recently made changes to their positions in WKHS. Swedbank AB acquired a new stake in shares of Workhorse Group in the first quarter valued at approximately $303,000. Vanguard Group Inc. raised its position in shares of Workhorse Group by 4.6% in the first quarter. Vanguard Group Inc. now owns 10,323,640 shares of the company’s stock valued at $2,422,000 after buying an additional 453,085 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Workhorse Group by 83.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock valued at $78,000 after buying an additional 149,960 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of Workhorse Group by 183.3% in the fourth quarter. Belpointe Asset Management LLC now owns 100,000 shares of the company’s stock valued at $36,000 after buying an additional 64,700 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Workhorse Group by 99.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 100,101 shares of the company’s stock valued at $36,000 after buying an additional 50,000 shares in the last quarter. 15.98% of the stock is currently owned by institutional investors and hedge funds.

Workhorse Group Company Profile

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.