Workhorse Group, Inc. (NASDAQ:WKHS) Sees Large Decrease in Short Interest

Workhorse Group, Inc. (NASDAQ:WKHS) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 1,960,000 shares, adeclineof33.3% from the July 15th total of 2,940,000 shares. Currently,20.8% of the company’s stock are sold short. Based on an average trading volume of 3,270,000 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 3,270,000 shares, the days-to-cover ratio is currently 0.6 days. Currently,20.8% of the company’s stock are sold short.

Hedge Funds Weigh In On Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC grew its holdings in shares of Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,684 shares of the company’s stock after buying an additional 11,073 shares during the quarter. Geode Capital Management LLC owned 0.47% of Workhorse Group worth $49,000 as of its most recent SEC filing. Institutional investors own 15.98% of the company’s stock.

Workhorse Group Price Performance

Shares of WKHS stock opened at $1.45 on Wednesday. Workhorse Group has a 12 month low of $0.8051 and a 12 month high of $24.25. The firm has a market capitalization of $13.73 million, a P/E ratio of -0.01 and a beta of 2.62. The company’s fifty day moving average price is $1.71 and its two-hundred day moving average price is $2.32.

Workhorse Group (NASDAQ:WKHS) last released its earnings results on Friday, August 15th. The company reported ($1.67) EPS for the quarter, beating the consensus estimate of ($3.98) by $2.31. The company had revenue of $5.67 million during the quarter, compared to analysts’ expectations of $2.30 million. Workhorse Group had a negative return on equity of 210.72% and a negative net margin of 760.65%. On average, sell-side analysts anticipate that Workhorse Group will post -3.8 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Workhorse Group from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.63.

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.