Workhorse Group Inc. (NASDAQ:WKHS) Sees Significant Decline in Short Interest

Workhorse Group Inc. (NASDAQ:WKHS) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 914,100 shares, a decrease of 89.9% from the February 28th total of 9,020,000 shares. Based on an average daily trading volume, of 298,700 shares, the days-to-cover ratio is currently 3.1 days. Approximately 28.5% of the shares of the company are sold short.

Workhorse Group Trading Down 2.4 %

NASDAQ WKHS opened at $2.05 on Friday. The company has a market cap of $6.72 million, a price-to-earnings ratio of -0.26 and a beta of 2.79. The company has a 50 day moving average of $5.38 and a 200-day moving average of $8.94. Workhorse Group has a 1-year low of $1.91 and a 1-year high of $68.07.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Workhorse Group in a report on Tuesday, March 18th. They set a “sell” rating for the company.

Hedge Funds Weigh In On Workhorse Group

A number of hedge funds have recently added to or reduced their stakes in WKHS. Geode Capital Management LLC raised its position in shares of Workhorse Group by 17.4% in the 4th quarter. Geode Capital Management LLC now owns 332,561 shares of the company’s stock valued at $232,000 after buying an additional 49,291 shares in the last quarter. Swedbank AB boosted its position in shares of Workhorse Group by 46.2% during the 4th quarter. Swedbank AB now owns 95,796 shares of the company’s stock worth $67,000 after acquiring an additional 30,294 shares in the last quarter. Virtu Financial LLC bought a new position in Workhorse Group in the third quarter valued at approximately $51,000. Finally, Jane Street Group LLC raised its position in Workhorse Group by 91.6% during the third quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock valued at $35,000 after purchasing an additional 19,473 shares in the last quarter. Institutional investors own 15.98% of the company’s stock.

About Workhorse Group

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.