Workhorse Group (NASDAQ:WKHS) Rating Increased to Hold at Zacks Investment Research

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Workhorse Group (NASDAQ:WKHS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, September 20th.

According to Zacks, “Workhorse Group Inc. is engaged in designing, developing, manufacturing and selling medium-duty trucks. The Company’s products include trucks comprising powertrain and chassis. Powertrain includes E-GEN and AMP E-100. Chassis include W88, W22, W42 and W62. Workhorse Group Inc., formerly known as AMP Holding Inc., is based in Loveland, United States. “

Several other analysts also recently commented on WKHS. Cowen cut their target price on Workhorse Group from $5.50 to $4.00 and set an “outperform” rating on the stock in a research note on Friday, July 13th. B. Riley started coverage on Workhorse Group in a research note on Wednesday, June 20th. They issued a “buy” rating and a $4.50 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $4.67.

Shares of Workhorse Group stock traded up $0.04 during midday trading on Thursday, hitting $1.05. The company had a trading volume of 138,478 shares, compared to its average volume of 278,187. The company has a quick ratio of 0.06, a current ratio of 0.39 and a debt-to-equity ratio of -0.33. The company has a market capitalization of $60.21 million, a P/E ratio of -0.96 and a beta of -0.48. Workhorse Group has a 52-week low of $0.91 and a 52-week high of $3.45.

Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings results on Monday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04). Workhorse Group had a negative return on equity of 1,564.64% and a negative net margin of 403.52%. The company had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.20 million. As a group, equities analysts expect that Workhorse Group will post -0.83 EPS for the current year.

A number of institutional investors have recently made changes to their positions in WKHS. First Manhattan Co. raised its holdings in Workhorse Group by 409.8% in the 2nd quarter. First Manhattan Co. now owns 311,000 shares of the company’s stock worth $566,000 after purchasing an additional 250,000 shares during the period. Cannell Peter B & Co. Inc. raised its holdings in Workhorse Group by 6.5% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,122,439 shares of the company’s stock worth $2,043,000 after purchasing an additional 68,382 shares during the period. Finally, Bank of America Corp DE raised its holdings in Workhorse Group by 1,165.6% in the 2nd quarter. Bank of America Corp DE now owns 56,357 shares of the company’s stock worth $103,000 after purchasing an additional 51,904 shares during the period. 8.02% of the stock is currently owned by institutional investors.

Workhorse Group Company Profile

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 system that enables fleet operators to optimize energy and route efficiency.

See Also: Intrinsic Value

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