Workhorse Group (NASDAQ:WKHS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Workhorse Group Inc. is engaged in designing, developing, manufacturing and selling medium-duty trucks. The Company’s products include trucks comprising powertrain and chassis. Powertrain includes E-GEN and AMP E-100. Chassis include W88, W22, W42 and W62. Workhorse Group Inc., formerly known as AMP Holding Inc., is based in Loveland, United States. “
Several other research firms have also recently commented on WKHS. B. Riley began coverage on Workhorse Group in a report on Wednesday, June 20th. They issued a “buy” rating and a $4.50 price target for the company. Cowen reduced their price target on Workhorse Group from $5.50 to $4.00 and set an “outperform” rating for the company in a report on Friday, July 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Workhorse Group has an average rating of “Buy” and a consensus target price of $4.67.
Workhorse Group (NASDAQ:WKHS) last announced its earnings results on Monday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04). Workhorse Group had a negative net margin of 403.52% and a negative return on equity of 1,564.64%. The company had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.20 million. As a group, equities analysts predict that Workhorse Group will post -0.83 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of Workhorse Group by 1,165.6% in the 2nd quarter. Bank of America Corp DE now owns 56,357 shares of the company’s stock valued at $103,000 after buying an additional 51,904 shares during the period. Cannell Peter B & Co. Inc. lifted its holdings in shares of Workhorse Group by 6.5% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,122,439 shares of the company’s stock valued at $2,043,000 after buying an additional 68,382 shares during the period. Finally, First Manhattan Co. lifted its holdings in shares of Workhorse Group by 409.8% in the 2nd quarter. First Manhattan Co. now owns 311,000 shares of the company’s stock valued at $566,000 after buying an additional 250,000 shares during the period. 8.02% of the stock is owned by institutional investors and hedge funds.
Workhorse Group Company Profile
Workhorse Group Inc designs, manufactures, builds, sells, and leases battery-electric vehicles and aircraft in the United States. It operates through two divisions, Automotive and Aviation. The company also develops cloud-based and real-time telematics performance monitoring system that enables fleet operators to optimize energy and route efficiency.
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