TD Cowen Forecasts Strong Price Appreciation for Workhorse Group (NASDAQ:WKHS) Stock

Workhorse Group (NASDAQ:WKHS) had its price objective boosted by TD Cowen from $0.25 to $1.25 in a report released on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Workhorse Group Stock Down 13.9 %

Shares of WKHS opened at $1.05 on Wednesday. The stock has a market cap of $25.58 million, a P/E ratio of -0.11 and a beta of 2.55. The business’s fifty day moving average is $0.85 and its 200 day moving average is $1.70. Workhorse Group has a 12-month low of $0.57 and a 12-month high of $8.78.

Workhorse Group (NASDAQ:WKHS) last announced its quarterly earnings results on Monday, August 19th. The company reported ($1.40) EPS for the quarter, hitting analysts’ consensus estimates of ($1.40). The business had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $3.00 million. Workhorse Group had a negative return on equity of 163.23% and a negative net margin of 1,366.25%. During the same period in the previous year, the firm earned ($2.40) EPS. On average, analysts expect that Workhorse Group will post -4.65 EPS for the current year.

Hedge Funds Weigh In On Workhorse Group

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in Workhorse Group by 91.6% during the third quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock worth $35,000 after purchasing an additional 19,473 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Workhorse Group during the 2nd quarter valued at about $55,000. Sei Investments Co. bought a new stake in shares of Workhorse Group in the 2nd quarter valued at approximately $69,000. Virtu Financial LLC acquired a new position in Workhorse Group during the 3rd quarter valued at approximately $51,000. Finally, Geode Capital Management LLC boosted its position in Workhorse Group by 76.9% during the 3rd quarter. Geode Capital Management LLC now owns 283,270 shares of the company’s stock worth $246,000 after acquiring an additional 123,150 shares during the period. 15.98% of the stock is owned by hedge funds and other institutional investors.

Workhorse Group Company Profile

Workhorse Group Inc, a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers commercial vehicles under the Workhorse brand. The company was formerly known as AMP Holding Inc and changed its name to Workhorse Group Inc in April 2015.