Workhorse Group (NASDAQ:WKHS) Stock Price Down 6.7%

Workhorse Group Inc (NASDAQ:WKHS)’s stock price traded down 6.7% during trading on Friday . The company traded as low as $3.28 and last traded at $3.32, 1,506,302 shares changed hands during mid-day trading. A decline of 7% from the average session volume of 1,611,487 shares. The stock had previously closed at $3.56.

Several equities analysts recently commented on the company. BTIG Research began coverage on Workhorse Group in a research note on Thursday, January 30th. They issued a “buy” rating and a $6.00 target price for the company. BidaskClub raised Workhorse Group from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. Finally, ValuEngine cut Workhorse Group from a “hold” rating to a “sell” rating in a report on Friday, January 3rd.

The company’s 50-day moving average is $3.22 and its 200-day moving average is $3.30. The firm has a market capitalization of $241.91 million, a price-to-earnings ratio of -2.84 and a beta of 1.62.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Workhorse Group by 135.4% during the second quarter. Vanguard Group Inc. now owns 2,396,515 shares of the company’s stock worth $7,045,000 after purchasing an additional 1,378,428 shares during the period. BlackRock Inc. boosted its holdings in shares of Workhorse Group by 756.4% in the 2nd quarter. BlackRock Inc. now owns 1,073,924 shares of the company’s stock valued at $3,157,000 after purchasing an additional 948,521 shares during the last quarter. Credit Suisse AG purchased a new stake in shares of Workhorse Group during the 4th quarter valued at $852,000. Essex Investment Management Co. LLC purchased a new stake in shares of Workhorse Group during the 4th quarter valued at $729,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Workhorse Group during the 4th quarter worth $602,000. 18.00% of the stock is owned by hedge funds and other institutional investors.

About Workhorse Group (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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