Sumitomo Mitsui Trust Holdings Inc. Acquires 270,990 Shares of Workhorse Group Inc. (NASDAQ:WKHS)

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Workhorse Group Inc. (NASDAQ:WKHS) by 57.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 739,614 shares of the company’s stock after acquiring an additional 270,990 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.58% of Workhorse Group worth $10,184,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sterling Investment Advisors Ltd. boosted its stake in Workhorse Group by 271.4% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 1,300 shares of the company’s stock worth $26,000 after acquiring an additional 950 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Workhorse Group in the fourth quarter worth approximately $28,000. NEXT Financial Group Inc lifted its stake in shares of Workhorse Group by 903.5% in the first quarter. NEXT Financial Group Inc now owns 3,432 shares of the company’s stock worth $47,000 after buying an additional 3,090 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Workhorse Group by 37.3% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 2,855 shares of the company’s stock worth $56,000 after buying an additional 775 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Workhorse Group by 1,890.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 4,380 shares of the company’s stock worth $60,000 after buying an additional 4,160 shares in the last quarter. 21.43% of the stock is currently owned by institutional investors and hedge funds.

WKHS has been the topic of a number of research analyst reports. Oppenheimer downgraded shares of Workhorse Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 24th. B. Riley began coverage on shares of Workhorse Group in a report on Thursday, April 22nd. They set a “buy” rating and a $20.00 target price for the company. Colliers Securities reaffirmed a “hold” rating on shares of Workhorse Group in a report on Monday, March 8th. Zacks Investment Research cut shares of Workhorse Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 12th. Finally, TheStreet raised shares of Workhorse Group from an “e+” rating to a “c-” rating in a report on Tuesday, March 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Workhorse Group currently has a consensus rating of “Hold” and a consensus price target of $19.17.

WKHS opened at $8.10 on Monday. The stock has a market capitalization of $998.41 million, a price-to-earnings ratio of -4.38, a PEG ratio of 9.07 and a beta of 2.80. The company has a fifty day moving average of $12.28 and a 200 day moving average of $20.62. Workhorse Group Inc. has a fifty-two week low of $2.42 and a fifty-two week high of $42.96.

Workhorse Group (NASDAQ:WKHS) last released its quarterly earnings data on Sunday, February 28th. The company reported $3.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $3.35. The business had revenue of $0.65 million for the quarter, compared to the consensus estimate of $1.25 million. On average, analysts anticipate that Workhorse Group Inc. will post 0.07 earnings per share for the current year.

In other Workhorse Group news, Director Raymond Joseph Chess sold 5,000 shares of the stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $12.59, for a total transaction of $62,950.00. Following the completion of the transaction, the director now owns 122,008 shares in the company, valued at $1,536,080.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Workhorse Group 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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Institutional Ownership by Quarter for Workhorse Group (NASDAQ:WKHS)

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