Workhorse Group, Inc. (NASDAQ:WKHS) Sees Large Drop in Short Interest

Workhorse Group, Inc. (NASDAQ:WKHS) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totaling 325,497 shares, a drop of 30.1% from the December 31st total of 465,846 shares. Based on an average daily volume of 159,872 shares, the days-to-cover ratio is presently 2.0 days. Currently, 15.3% of the shares of the stock are sold short. Currently, 15.3% of the shares of the stock are sold short. Based on an average daily volume of 159,872 shares, the days-to-cover ratio is presently 2.0 days.

Workhorse Group Stock Performance

Workhorse Group stock opened at $4.90 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.21 and a quick ratio of 0.71. The firm has a market capitalization of $10.63 million, a P/E ratio of -0.06 and a beta of 2.41. Workhorse Group has a 1-year low of $4.60 and a 1-year high of $90.63. The company’s 50-day moving average is $6.50 and its 200 day moving average is $12.28.

Workhorse Group (NASDAQ:WKHS) last announced its earnings results on Monday, November 10th. The company reported ($16.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($17.40) by $0.72. Workhorse Group had a negative return on equity of 232.69% and a negative net margin of 606.64%.The business had revenue of $2.38 million during the quarter, compared to analyst estimates of $2.50 million. Research analysts forecast that Workhorse Group will post -3.8 EPS for the current year.

Insider Buying and Selling

In other Workhorse Group news, Director Austin Scott Miller sold 5,051 shares of Workhorse Group stock in a transaction on Monday, December 15th. The shares were sold at an average price of $6.51, for a total value of $32,882.01. Following the completion of the transaction, the director directly owned 130 shares of the company’s stock, valued at $846.30. This trade represents a 97.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard F. Dauch sold 8,564 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $6.51, for a total transaction of $55,751.64. Following the completion of the sale, the chief executive officer owned 1,310 shares in the company, valued at approximately $8,528.10. This trade represents a 86.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,655 shares of company stock valued at $251,644 in the last three months. Corporate insiders own 1.91% of the company’s stock.

Institutional Trading of Workhorse Group

An institutional investor recently raised its position in Workhorse Group stock. Geode Capital Management LLC grew its stake in shares of Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,684 shares of the company’s stock after purchasing an additional 11,073 shares during the quarter. Geode Capital Management LLC owned approximately 0.47% of Workhorse Group worth $49,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 15.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Workhorse Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Workhorse Group has an average rating of “Sell”.

About Workhorse Group

Workhorse Group Inc is a U.S.-based technology company specializing in the design and manufacture of electric vehicles and drone-integrated delivery solutions. Founded in 2007 and headquartered in Loveland, Ohio, Workhorse focuses on last-mile delivery, combining electric powertrain systems, advanced telematics and proprietary composite bodies to address the growing demand for sustainable logistics fleets.

The company’s core product lineup includes the N-GEN™ chassis, a modular electric vehicle platform available in Class 3–5 configurations, and the C-1000™ all-electric delivery van.