Workhorse Group Inc. (NASDAQ:WKHS) Position Boosted by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA grew its holdings in shares of Workhorse Group Inc. (NASDAQ:WKHS) by 88.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 45,368 shares of the company’s stock after purchasing an additional 21,290 shares during the period. BNP Paribas Arbitrage SA’s holdings in Workhorse Group were worth $625,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. NEXT Financial Group Inc boosted its position in shares of Workhorse Group by 903.5% during the 1st quarter. NEXT Financial Group Inc now owns 3,432 shares of the company’s stock valued at $47,000 after purchasing an additional 3,090 shares in the last quarter. Sowell Financial Services LLC boosted its position in shares of Workhorse Group by 351.0% during the 1st quarter. Sowell Financial Services LLC now owns 5,344 shares of the company’s stock valued at $51,000 after purchasing an additional 4,159 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its position in shares of Workhorse Group by 37.3% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 2,855 shares of the company’s stock valued at $56,000 after purchasing an additional 775 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Workhorse Group by 1,890.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 4,380 shares of the company’s stock worth $60,000 after buying an additional 4,160 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Workhorse Group in the first quarter worth about $63,000. Institutional investors own 45.50% of the company’s stock.

In other news, Director Raymond Joseph Chess sold 5,000 shares of Workhorse Group stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $8.00, for a total value of $40,000.00. Following the transaction, the director now owns 117,008 shares of the company’s stock, valued at $936,064. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.90% of the stock is currently owned by company insiders.

Several research analysts have commented on the stock. Oppenheimer cut shares of Workhorse Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 24th. Cowen cut shares of Workhorse Group from an “outperform” rating to a “market perform” rating and set a $13.00 price target for the company. in a report on Friday, June 4th. Zacks Investment Research cut shares of Workhorse Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 12th. Roth Capital decreased their price target on shares of Workhorse Group from $15.00 to $8.50 and set a “neutral” rating for the company in a report on Monday, May 10th. Finally, TheStreet cut shares of Workhorse Group from a “c-” rating to a “d” rating in a report on Wednesday, June 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Workhorse Group currently has an average rating of “Hold” and an average target price of $21.19.

Shares of WKHS opened at $15.06 on Friday. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -41.83 and a beta of 2.64. The company’s 50 day simple moving average is $11.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 24.88 and a current ratio of 26.63. Workhorse Group Inc. has a twelve month low of $3.40 and a twelve month high of $42.96.

Workhorse Group Profile

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.

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Institutional Ownership by Quarter for Workhorse Group (NASDAQ:WKHS)

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