Workhorse Group (NASDAQ:WKHS) Price Target Lowered to $0.25 at TD Cowen

Workhorse Group (NASDAQ:WKHS) had its price target lowered by TD Cowen from $3.00 to $0.25 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s target price would suggest a potential downside of 71.78% from the company’s current price.

Workhorse Group Stock Down 8.1 %

Shares of WKHS stock traded down $0.08 during mid-day trading on Wednesday, reaching $0.89. 797,232 shares of the company’s stock traded hands, compared to its average volume of 851,714. The company’s 50-day moving average price is $1.60 and its 200-day moving average price is $3.51. The company has a market cap of $16.62 million, a P/E ratio of -0.08 and a beta of 2.57. Workhorse Group has a 12 month low of $0.86 and a 12 month high of $16.60.

Workhorse Group (NASDAQ:WKHS) last announced its quarterly earnings data on Monday, August 19th. The company reported ($1.40) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.40). Workhorse Group had a negative return on equity of 138.20% and a negative net margin of 1,005.23%. The business had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $3.00 million. During the same quarter in the previous year, the business earned ($2.40) earnings per share. Equities analysts predict that Workhorse Group will post -6 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Belpointe Asset Management LLC grew its holdings in shares of Workhorse Group by 183.3% in the fourth quarter. Belpointe Asset Management LLC now owns 100,000 shares of the company’s stock worth $36,000 after acquiring an additional 64,700 shares during the period. Sei Investments Co. purchased a new position in Workhorse Group in the second quarter worth about $69,000. Cubist Systematic Strategies LLC purchased a new position in Workhorse Group in the second quarter worth about $55,000. Vanguard Group Inc. lifted its stake in shares of Workhorse Group by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 10,323,640 shares of the company’s stock worth $2,422,000 after purchasing an additional 453,085 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Workhorse Group by 83.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock worth $78,000 after buying an additional 149,960 shares during the last quarter. 15.98% of the stock is owned by hedge funds and other institutional investors.

Workhorse Group Company Profile

Workhorse Group Inc, a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers commercial vehicles under the Workhorse brand. The company was formerly known as AMP Holding Inc and changed its name to Workhorse Group Inc in April 2015.