Gregory T. Ackerson Sells 10,869 Shares of Workhorse Group Inc (NASDAQ:WKHS) Stock

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Workhorse Group Inc (NASDAQ:WKHS) insider Gregory T. Ackerson sold 10,869 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $23.85, for a total value of $259,225.65. Following the completion of the transaction, the insider now directly owns 114,037 shares in the company, valued at approximately $2,719,782.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

WKHS stock traded up $1.47 during mid-day trading on Wednesday, reaching $26.82. 27,895,703 shares of the stock traded hands, compared to its average volume of 12,281,462. Workhorse Group Inc has a 52 week low of $1.32 and a 52 week high of $28.20. The business has a 50-day moving average of $17.74 and a two-hundred day moving average of $8.57. The firm has a market capitalization of $2.82 billion, a PE ratio of -14.51 and a beta of 2.82.

Workhorse Group (NASDAQ:WKHS) last released its quarterly earnings results on Monday, August 10th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($1.64). The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.30 million. Sell-side analysts predict that Workhorse Group Inc will post -0.44 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Jaffetilchin Investment Partners LLC bought a new stake in Workhorse Group during the second quarter valued at about $63,000. US Bancorp DE bought a new stake in shares of Workhorse Group in the second quarter valued at about $35,000. Captrust Financial Advisors bought a new stake in shares of Workhorse Group in the second quarter valued at about $40,000. Joseph P. Lucia & Associates LLC lifted its stake in shares of Workhorse Group by 440.0% in the second quarter. Joseph P. Lucia & Associates LLC now owns 2,700 shares of the company’s stock valued at $47,000 after buying an additional 2,200 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Workhorse Group in the second quarter valued at about $47,000. Institutional investors own 21.43% of the company’s stock.

Several analysts have issued reports on WKHS shares. Cowen boosted their target price on shares of Workhorse Group from $4.50 to $11.50 and gave the company an “outperform” rating in a research note on Friday, June 26th. Oppenheimer started coverage on shares of Workhorse Group in a research note on Wednesday, September 2nd. They issued an “outperform” rating and a $23.00 price target on the stock. ValuEngine downgraded shares of Workhorse Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. BidaskClub raised shares of Workhorse Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 24th. Finally, Zacks Investment Research downgraded shares of Workhorse Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $17.00.

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 systems that enable fleet operators to optimize energy and route efficiency.

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