Workhorse Group (NASDAQ:WKHS) Shares Gap Up to $15.58

Workhorse Group Inc. (NASDAQ:WKHS)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $15.58, but opened at $17.31. Workhorse Group shares last traded at $17.83, with a volume of 380,844 shares changing hands.

WKHS has been the topic of several analyst reports. Roth Capital lowered their price objective on Workhorse Group from $15.00 to $8.50 and set a “neutral” rating on the stock in a research report on Monday, May 10th. Zacks Investment Research cut shares of Workhorse Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 12th. B. Riley initiated coverage on shares of Workhorse Group in a research note on Friday, April 16th. They issued a “buy” rating and a $20.00 price target for the company. TheStreet cut Workhorse Group from a “c-” rating to a “d” rating in a report on Wednesday, June 2nd. Finally, Cowen cut shares of Workhorse Group from an “outperform” rating to a “market perform” rating and set a $13.00 price objective on the stock. in a research note on Friday, June 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Workhorse Group has an average rating of “Hold” and an average price target of $21.19.

The stock’s fifty day moving average price is $11.42. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -41.83 and a beta of 2.64. The company has a quick ratio of 24.88, a current ratio of 26.63 and a debt-to-equity ratio of 0.66.

In related news, Director Raymond Joseph Chess sold 5,000 shares of Workhorse Group stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $8.00, for a total transaction of $40,000.00. Following the sale, the director now owns 117,008 shares of the company’s stock, valued at approximately $936,064. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.90% of the company’s stock.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Workhorse Group by 5.0% in the 1st quarter. BlackRock Inc. now owns 7,451,966 shares of the company’s stock valued at $102,615,000 after acquiring an additional 354,845 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Workhorse Group by 116.4% during the first quarter. ARK Investment Management LLC now owns 3,999,408 shares of the company’s stock valued at $55,072,000 after purchasing an additional 2,151,192 shares in the last quarter. Robeco Schweiz AG bought a new stake in shares of Workhorse Group in the first quarter worth about $54,667,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Workhorse Group in the first quarter worth about $31,671,000. Finally, Citigroup Inc. boosted its stake in Workhorse Group by 5,302.8% during the fourth quarter. Citigroup Inc. now owns 2,012,775 shares of the company’s stock valued at $39,813,000 after buying an additional 1,975,521 shares during the last quarter. Hedge funds and other institutional investors own 45.50% of the company’s stock.

Workhorse Group Company Profile (NASDAQ:WKHS)

Workhorse Group Inc, a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.

Read More: What is the Beige Book?

Receive News & Ratings for Workhorse Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workhorse Group and related companies with MarketBeat.com's FREE daily email newsletter.