Gregory T. Ackerson Sells 3,223 Shares of Workhorse Group Inc. (NASDAQ:WKHS) Stock


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Workhorse Group Inc. (NASDAQ:WKHS) insider Gregory T. Ackerson sold 3,223 shares of the business’s stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $27.91, for a total value of $89,953.93. Following the completion of the transaction, the insider now owns 103,780 shares in the company, valued at approximately $2,896,499.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of WKHS opened at $24.54 on Thursday. Workhorse Group Inc. has a twelve month low of $1.32 and a twelve month high of $30.99. The stock has a market cap of $2.96 billion, a PE ratio of -13.26, a P/E/G ratio of 9.07 and a beta of 2.80. The business’s 50-day moving average price is $22.92 and its 200-day moving average price is $20.55.

Workhorse Group (NASDAQ:WKHS) last posted its earnings results on Monday, November 9th. The company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.67). The company had revenue of $0.57 million for the quarter, compared to analyst estimates of $0.40 million. Equities analysts expect that Workhorse Group Inc. will post 0.07 earnings per share for the current year.

WKHS has been the topic of a number of recent analyst reports. BidaskClub lowered Workhorse Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 5th. Roth Capital cut their price target on shares of Workhorse Group from $27.00 to $19.00 in a report on Tuesday, November 10th. Zacks Investment Research cut shares of Workhorse Group from a “hold” rating to a “sell” rating in a report on Saturday, November 14th. Wolfe Research initiated coverage on Workhorse Group in a research report on Wednesday, December 9th. They set a “market perform” rating and a $24.00 price target on the stock. Finally, Vertical Research assumed coverage on Workhorse Group in a report on Monday, October 26th. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.38.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Workhorse Group by 47.5% during the third quarter. BlackRock Inc. now owns 6,213,256 shares of the company’s stock valued at $157,071,000 after purchasing an additional 2,001,153 shares during the last quarter. Seaport Global Asset Management LLC bought a new position in Workhorse Group in the third quarter valued at $99,521,000. State Street Corp raised its position in Workhorse Group by 37.7% during the third quarter. State Street Corp now owns 2,312,751 shares of the company’s stock valued at $58,466,000 after purchasing an additional 633,437 shares in the last quarter. ARK Investment Management LLC lifted its stake in Workhorse Group by 605.9% during the third quarter. ARK Investment Management LLC now owns 729,863 shares of the company’s stock worth $18,451,000 after purchasing an additional 626,463 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Workhorse Group by 287.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 609,405 shares of the company’s stock worth $15,406,000 after purchasing an additional 452,273 shares during the last quarter. 21.43% of the stock is currently owned by hedge funds and other institutional investors.

Workhorse Group Company Profile

Workhorse Group Inc, a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.

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