Workhorse Group Target of Unusually High Options Trading (NASDAQ:WKHS)

Workhorse Group Inc. (NASDAQ:WKHS) was the target of some unusual options trading on Tuesday. Stock traders bought 15,770 call options on the company. This is an increase of approximately 1,241% compared to the typical volume of 1,176 call options.

Workhorse Group Trading Up 21.0 %

Shares of NASDAQ:WKHS opened at $1.44 on Wednesday. The stock has a market capitalization of $35.08 million, a price-to-earnings ratio of -0.15 and a beta of 2.55. The stock has a fifty day simple moving average of $0.77 and a two-hundred day simple moving average of $1.78. Workhorse Group has a 12-month low of $0.57 and a 12-month high of $8.78.

Workhorse Group (NASDAQ:WKHS) last posted its earnings results on Monday, August 19th. The company reported ($1.40) EPS for the quarter, hitting analysts’ consensus estimates of ($1.40). The business had revenue of $0.84 million during the quarter, compared to analyst estimates 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 company earned ($2.40) EPS. As a group, equities research analysts predict that Workhorse Group will post -4.65 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Workhorse Group

A number of institutional investors and hedge funds have recently modified their holdings of WKHS. Cubist Systematic Strategies LLC bought a new stake in shares of Workhorse Group in the second quarter worth $55,000. Sei Investments Co. bought a new stake in shares of Workhorse Group in the second quarter worth $69,000. Swedbank AB bought a new stake in shares of Workhorse Group in the first quarter worth $303,000. Price T Rowe Associates Inc. MD grew its holdings 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 acquiring an additional 149,960 shares during the period. Finally, Vanguard Group Inc. grew its holdings 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 acquiring 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.