Workhorse Group (NASDAQ:WKHS) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Workhorse Group Inc. (NASDAQ:WKHS) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $0.76 and traded as low as $0.48. Workhorse Group shares last traded at $0.52, with a volume of 1,810,282 shares trading hands.

Wall Street Analysts Forecast Growth

WKHS has been the topic of several research reports. TD Cowen boosted their target price on Workhorse Group from $0.25 to $1.25 and gave the company a “hold” rating in a research note on Wednesday, November 20th. StockNews.com upgraded Workhorse Group to a “sell” rating in a research note on Friday, January 10th.

Workhorse Group Trading Up 6.9 %

The company has a market cap of $21.29 million, a P/E ratio of -0.07 and a beta of 2.67. The business has a 50 day moving average price of $0.76 and a 200-day moving average price of $0.87.

Institutional Investors Weigh In On Workhorse Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Workhorse Group during the 2nd quarter worth approximately $55,000. Jane Street Group LLC increased its holdings in shares of Workhorse Group by 91.6% during the 3rd quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock worth $35,000 after acquiring an additional 19,473 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Workhorse Group during the 3rd quarter worth approximately $51,000. Swedbank AB increased its holdings 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 during the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 worth $246,000 after acquiring an additional 123,150 shares during 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.