Workhorse Group (NASDAQ:WKHS) Stock Passes Below 200-Day Moving Average – What’s Next?

Workhorse Group Inc. (NASDAQ:WKHS) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.03 and traded as low as $0.73. Workhorse Group shares last traded at $0.76, with a volume of 3,550,306 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WKHS. TD Cowen increased their price target on shares of Workhorse Group from $0.25 to $1.25 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. StockNews.com raised shares of Workhorse Group to a “sell” rating in a research report on Friday.

Workhorse Group Trading Down 0.1 %

The company’s fifty day moving average is $0.95 and its 200-day moving average is $1.02. The firm has a market capitalization of $31.25 million, a P/E ratio of -0.10 and a beta of 2.70.

Institutional Trading of Workhorse Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Workhorse Group by 76.9% during the third 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 Workhorse Group during the third quarter worth about $51,000. Sei Investments Co. bought a new position in Workhorse Group during the second quarter valued at about $69,000. Jane Street Group LLC raised its holdings in Workhorse Group by 91.6% in the 3rd quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock valued at $35,000 after acquiring an additional 19,473 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Workhorse Group in the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 15.98% of the company’s stock.

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.