Workhorse Group Stock to Reverse Split on Monday, June 17th (NASDAQ:WKHS)

Workhorse Group Inc. (NASDAQ:WKHS) shares are set to reverse split before the market opens on Monday, June 17th. The 1-20 reverse split was announced on Monday, June 17th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 17th.

Workhorse Group Price Performance

WKHS stock traded down $0.03 during trading on Thursday, hitting $0.15. 24,450,918 shares of the company traded hands, compared to its average volume of 12,382,562. Workhorse Group has a 1 year low of $0.15 and a 1 year high of $1.36. The company has a market cap of $56.28 million, a PE ratio of -0.28 and a beta of 2.96. The stock’s 50-day simple moving average is $0.19 and its 200 day simple moving average is $0.27.

Workhorse Group (NASDAQ:WKHS) last issued its quarterly earnings data on Monday, May 20th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $1.34 million for the quarter, compared to analyst estimates of $3.00 million. Workhorse Group had a negative return on equity of 138.20% and a negative net margin of 1,005.23%. Research analysts expect that Workhorse Group will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on WKHS shares. DA Davidson cut their price objective on shares of Workhorse Group from $1.00 to $0.50 and set a “neutral” rating for the company in a report on Monday, April 1st. R. F. Lafferty restated a “sell” rating on shares of Workhorse Group in a research note on Wednesday, March 13th.

Institutional Investors Weigh In On Workhorse Group

A number of institutional investors have recently added to or reduced their stakes in WKHS. Swedbank AB acquired a new position in Workhorse Group during the first quarter worth $303,000. Vanguard Group Inc. increased its stake in shares of Workhorse Group by 4.6% during the first quarter. Vanguard Group Inc. now owns 10,323,640 shares of the company’s stock worth $2,422,000 after purchasing an additional 453,085 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Workhorse Group by 83.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock worth $78,000 after purchasing an additional 149,960 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in Workhorse Group by 183.3% in the 4th quarter. Belpointe Asset Management LLC now owns 100,000 shares of the company’s stock valued at $36,000 after buying an additional 64,700 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Workhorse Group by 99.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 100,101 shares of the company’s stock worth $36,000 after buying an additional 50,000 shares during the last quarter. Institutional investors and hedge funds 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.