Workhorse Group (NASDAQ:WKHS) Price Target Cut to $0.50

Workhorse Group (NASDAQ:WKHS) had its target price reduced by DA Davidson from $1.00 to $0.50 in a report published on Monday, Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Separately, R. F. Lafferty reiterated a sell rating on shares of Workhorse Group in a report on Wednesday, March 13th.

Workhorse Group Price Performance

Workhorse Group stock opened at $0.20 on Monday. Workhorse Group has a fifty-two week low of $0.20 and a fifty-two week high of $1.36. The company has a market cap of $64.37 million, a P/E ratio of -0.35 and a beta of 2.46. The firm’s 50 day simple moving average is $0.27 and its 200-day simple moving average is $0.35.

Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Workhorse Group had a negative net margin of 946.32% and a negative return on equity of 121.46%. The company had revenue of $4.41 million for the quarter, compared to analysts’ expectations of $3.30 million. On average, analysts expect that Workhorse Group will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Workhorse Group

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Workhorse Group by 0.5% in the 2nd quarter. BlackRock Inc. now owns 12,146,640 shares of the company’s stock worth $10,587,000 after purchasing an additional 61,764 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Workhorse Group by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 9,870,555 shares of the company’s stock worth $3,553,000 after buying an additional 453,481 shares during the last quarter. Finally, State Street Corp grew its stake in Workhorse Group by 14.2% in the 2nd quarter. State Street Corp now owns 9,260,714 shares of the company’s stock valued at $8,072,000 after buying an additional 1,152,914 shares during the last quarter. 15.98% of the stock is currently owned by institutional investors.

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 electric and range-extended medium-duty delivery trucks under the Workhorse brand; and HorseFly Unmanned Aerial System, as well as designs and manufactures drone systems.