Workhorse Group Inc. (NASDAQ:WKHS) Sees Significant Growth in Short Interest

Workhorse Group Inc. (NASDAQ:WKHS) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,200,000 shares, a growth of 31.3% from the March 15th total of 914,100 shares. Approximately 36.6% of the shares of the company are sold short. Based on an average daily volume of 344,700 shares, the days-to-cover ratio is currently 3.5 days.

Hedge Funds Weigh In On Workhorse Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of Workhorse Group by 17.4% in the fourth quarter. Geode Capital Management LLC now owns 332,561 shares of the company’s stock valued at $232,000 after buying an additional 49,291 shares in the last quarter. Swedbank AB grew its stake in shares of Workhorse Group by 46.2% during the 4th quarter. Swedbank AB now owns 95,796 shares of the company’s stock worth $67,000 after purchasing an additional 30,294 shares during the period. Virtu Financial LLC purchased a new position in shares of Workhorse Group in the 3rd quarter valued at about $51,000. Finally, Jane Street Group LLC lifted its stake in shares of Workhorse Group by 91.6% in 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 during the period. Institutional investors and hedge funds own 15.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Workhorse Group in a report on Tuesday, March 18th. They set a “sell” rating for the company.

Workhorse Group Stock Up 6.9 %

Shares of Workhorse Group stock opened at $1.40 on Monday. The firm has a market cap of $7.18 million, a price-to-earnings ratio of -0.18 and a beta of 2.99. Workhorse Group has a 52-week low of $1.09 and a 52-week high of $68.07. The company’s 50-day simple moving average is $3.35 and its 200-day simple moving average is $7.92.

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.