Workhorse Group Inc. (NASDAQ:WKHS) Sees Large Increase in Short Interest

Workhorse Group Inc. (NASDAQ:WKHS) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 8,100,000 shares, a growth of 35.5% from the December 31st total of 5,980,000 shares. Approximately 20.2% of the shares of the company are sold short. Based on an average daily volume of 3,220,000 shares, the short-interest ratio is currently 2.5 days.

Workhorse Group Stock Performance

NASDAQ:WKHS opened at $0.53 on Thursday. The stock has a 50-day simple moving average of $0.84 and a two-hundred day simple moving average of $0.94. The firm has a market capitalization of $21.81 million, a PE ratio of -0.07 and a beta of 2.70. Workhorse Group has a 52-week low of $0.50 and a 52-week high of $8.18.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC lifted its holdings in Workhorse Group by 91.6% during the third quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock valued at $35,000 after purchasing an additional 19,473 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Workhorse Group during the 3rd quarter valued at $51,000. Cubist Systematic Strategies LLC purchased a new position in shares of Workhorse Group during the 2nd quarter valued at $55,000. Swedbank AB boosted its holdings in Workhorse Group by 46.2% in the 4th quarter. Swedbank AB now owns 95,796 shares of the company’s stock worth $67,000 after buying an additional 30,294 shares during the period. Finally, Sei Investments Co. bought a new position in Workhorse Group in the 2nd quarter worth $69,000. 15.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WKHS shares. TD Cowen boosted their price target on Workhorse Group from $0.25 to $1.25 and gave the company a “hold” rating in a research note on Wednesday, November 20th. StockNews.com upgraded shares of Workhorse Group to a “sell” rating in a research report on Friday, January 10th.

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.