Investors Purchase Large Volume of Workhorse Group Call Options (NASDAQ:WKHS)

Workhorse Group Inc. (NASDAQ:WKHS) was the target of some unusual options trading on Tuesday. Stock traders bought 2,562 call options on the company. This represents an increase of approximately 92% compared to the average volume of 1,336 call options.

Workhorse Group Trading Down 5.2 %

Shares of WKHS traded down $0.04 during trading hours on Tuesday, reaching $0.71. The company had a trading volume of 4,000,289 shares, compared to its average volume of 1,052,244. Workhorse Group has a 12-month low of $0.57 and a 12-month high of $15.30. The firm has a 50 day simple moving average of $1.23 and a 200-day simple moving average of $3.04. The company has a market capitalization of $17.31 million, a price-to-earnings ratio of -0.07 and a beta of 2.50.

Workhorse Group (NASDAQ:WKHS) last released its earnings results on Monday, August 19th. The company reported ($1.40) EPS for the quarter, hitting the consensus estimate of ($1.40). Workhorse Group had a negative net margin of 1,366.25% and a negative return on equity of 163.23%. The firm had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $3.00 million. During the same period in the previous year, the company earned ($2.40) EPS. Sell-side analysts forecast that Workhorse Group will post -4.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Workhorse Group during the second quarter worth approximately $55,000. Sei Investments Co. acquired a new position in Workhorse Group during the 2nd quarter worth $69,000. Belpointe Asset Management LLC increased its position in shares of Workhorse Group by 183.3% in the 4th quarter. Belpointe Asset Management LLC now owns 100,000 shares of the company’s stock worth $36,000 after purchasing an additional 64,700 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Workhorse Group by 83.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock valued at $78,000 after purchasing an additional 149,960 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Workhorse Group during the first quarter worth about $303,000. 15.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, TD Cowen cut their target price on Workhorse Group from $3.00 to $0.25 and set a “hold” rating on the stock in a research report on Wednesday, August 21st.

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.