Workhorse Group (NASDAQ:WKHS) Share Price Passes Below 200-Day Moving Average – Here’s Why

Workhorse Group Inc. (NASDAQ:WKHS)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.30 and traded as low as $0.89. Workhorse Group shares last traded at $0.89, with a volume of 3,823,618 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WKHS shares. StockNews.com raised Workhorse Group to a “sell” rating in a research report on Thursday, December 5th. TD Cowen boosted their price target on Workhorse Group from $0.25 to $1.25 and gave the stock a “hold” rating in a research report on Wednesday, November 20th.

Workhorse Group Trading Down 10.6 %

The stock has a market cap of $36.66 million, a PE ratio of -0.11 and a beta of 2.63. The company’s 50 day moving average is $0.95 and its 200-day moving average is $1.30.

Institutional Trading of Workhorse Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Workhorse Group by 4.6% in the first quarter. Vanguard Group Inc. now owns 10,323,640 shares of the company’s stock valued at $2,422,000 after purchasing an additional 453,085 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Workhorse Group by 83.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock valued at $78,000 after purchasing an additional 149,960 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Workhorse Group by 76.9% during the 3rd quarter. Geode Capital Management LLC now owns 283,270 shares of the company’s stock valued at $246,000 after buying an additional 123,150 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Workhorse Group during the third quarter worth approximately $51,000. Finally, Sei Investments Co. bought a new stake in shares of Workhorse Group in the second quarter worth $69,000. 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.