Cowen and Company Begins Coverage on Workhorse Group, Inc. (WKHS)
Equities research analysts at Cowen and Company started coverage on shares of Workhorse Group, Inc. (NASDAQ:WKHS) in a report released on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $5.25 price target on the stock. Cowen and Company’s price objective would suggest a potential upside of 77.97% from the stock’s previous close.
Separately, Maxim Group set a $5.00 target price on Workhorse Group and gave the company a “buy” rating in a research report on Wednesday, August 9th.
Shares of Workhorse Group (WKHS) traded up 4.98% during mid-day trading on Thursday, reaching $2.95. The company’s stock had a trading volume of 242,133 shares. The stock’s market capitalization is $110.11 million. The company’s 50-day moving average price is $2.89 and its 200-day moving average price is $2.94. Workhorse Group has a 12-month low of $1.85 and a 12-month high of $10.30.
Workhorse Group (NASDAQ:WKHS) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.03. Workhorse Group had a negative return on equity of 290.34% and a negative net margin of 419.92%. The firm had revenue of $0.27 million during the quarter. On average, equities research analysts forecast that Workhorse Group will post ($0.93) earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new position in Workhorse Group during the second quarter valued at $122,000. CWH Capital Management Inc. increased its position in Workhorse Group by 4.2% in the second quarter. CWH Capital Management Inc. now owns 709,425 shares of the company’s stock valued at $2,618,000 after buying an additional 28,425 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Workhorse Group by 74.8% in the second quarter. Goldman Sachs Group Inc. now owns 77,209 shares of the company’s stock valued at $285,000 after buying an additional 33,040 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in Workhorse Group during the second quarter valued at $166,000. Finally, Glenview Trust Co increased its position in Workhorse Group by 28.6% in the second quarter. Glenview Trust Co now owns 37,500 shares of the company’s stock valued at $138,000 after buying an additional 8,333 shares in the last quarter. 15.42% of the stock is currently owned by hedge funds and other institutional investors.
Workhorse Group Company Profile
Workhorse Group, Inc, formerly AMP Holding Inc, is a development-stage company. The Company designs, develops, manufactures and sells medium-duty trucks with powertrain components under the Workhorse chassis brand. The Company’s products include trucks comprising powertrain and chassis. Its powertrain products include E-GEN and E-100.
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