Short Interest in Workhorse Group Inc. (NASDAQ:WKHS) Expands By 28.0%

Workhorse Group Inc. (NASDAQ:WKHS) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 5,570,000 shares, an increase of 28.0% from the September 30th total of 4,350,000 shares. Based on an average daily trading volume, of 1,940,000 shares, the days-to-cover ratio is presently 2.9 days. Approximately 23.9% of the company’s stock are sold short.

Workhorse Group Price Performance

WKHS stock opened at $0.81 on Monday. The stock has a market capitalization of $15.28 million, a price-to-earnings ratio of -0.08 and a beta of 2.52. The business’s fifty day moving average price is $0.77 and its two-hundred day moving average price is $2.00. Workhorse Group has a fifty-two week low of $0.57 and a fifty-two week high of $9.00.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WKHS. Cubist Systematic Strategies LLC bought a new position in shares of Workhorse Group in the second quarter worth $55,000. Sei Investments Co. bought a new position in shares of Workhorse Group in the second quarter worth $69,000. Price T Rowe Associates Inc. MD increased its position 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 purchasing an additional 149,960 shares during the period. Swedbank AB bought a new position in shares of Workhorse Group in the first quarter worth $303,000. Finally, Vanguard Group Inc. increased its position in shares of Workhorse Group by 4.6% in the first 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. Institutional investors own 15.98% of the company’s stock.

About Workhorse Group

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.