Workhorse Group (NASDAQ:WKHS) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Workhorse Group Inc. (NASDAQ:WKHS)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $0.78 and traded as high as $0.81. Workhorse Group shares last traded at $0.79, with a volume of 746,139 shares changing hands.

Wall Street Analysts Forecast Growth

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

Workhorse Group Stock Performance

The firm has a market capitalization of $14.77 million, a price-to-earnings ratio of -0.07 and a beta of 2.52. The company has a 50 day moving average price of $0.78 and a two-hundred day moving average price of $2.04.

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 analysts’ consensus estimates of ($1.40). Workhorse Group had a negative net margin of 1,366.25% and a negative return on equity of 163.23%. The company had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $3.00 million. During the same period in the prior year, the business posted ($2.40) earnings per share. On average, equities analysts expect that Workhorse Group Inc. will post -4.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Workhorse Group

Several institutional investors have recently bought and sold shares of WKHS. Cubist Systematic Strategies LLC purchased a new position in Workhorse Group in the 2nd quarter worth approximately $55,000. Sei Investments Co. acquired a new stake in shares of Workhorse Group in the second quarter valued at approximately $69,000. Price T Rowe Associates Inc. MD lifted its position in Workhorse Group by 83.1% during 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 in the last quarter. Vanguard Group Inc. boosted its stake in Workhorse Group by 4.6% during the first quarter. Vanguard Group Inc. now owns 10,323,640 shares of the company’s stock worth $2,422,000 after buying an additional 453,085 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Workhorse Group in the 1st quarter valued at $303,000. 15.98% of the stock is currently owned by institutional investors and hedge funds.

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.