Ameritas Investment Company LLC reduced its position in Workhorse Group Inc. (NASDAQ:WKHS) by 60.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,965 shares of the company’s stock after selling 24,205 shares during the period. Ameritas Investment Company LLC’s holdings in Workhorse Group were worth $220,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Intrinsic Edge Capital Management LLC purchased a new position in shares of Workhorse Group in the first quarter worth approximately $1,377,000. Hilltop Holdings Inc. purchased a new position in shares of Workhorse Group in the first quarter worth approximately $292,000. AQR Capital Management LLC increased its position in shares of Workhorse Group by 5.0% in the first quarter. AQR Capital Management LLC now owns 42,688 shares of the company’s stock worth $588,000 after acquiring an additional 2,044 shares in the last quarter. Royal Bank of Canada increased its position in shares of Workhorse Group by 10.0% in the first quarter. Royal Bank of Canada now owns 56,343 shares of the company’s stock worth $776,000 after acquiring an additional 5,110 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Workhorse Group by 6.6% in the first quarter. Nuveen Asset Management LLC now owns 449,490 shares of the company’s stock worth $6,189,000 after acquiring an additional 27,965 shares in the last quarter. 45.48% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ WKHS opened at $11.65 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 26.63 and a quick ratio of 24.88. The firm has a market capitalization of $1.44 billion, a PE ratio of -32.36 and a beta of 2.71. The company has a 50 day simple moving average of $12.58. Workhorse Group Inc. has a 12-month low of $7.07 and a 12-month high of $42.96.
In other Workhorse Group news, Director Raymond Joseph Chess sold 5,000 shares of Workhorse Group stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $8.00, for a total value of $40,000.00. Following the completion of the sale, the director now directly owns 117,008 shares in the company, valued at $936,064. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is owned by insiders.
Several research analysts have recently weighed in on the stock. B. Riley assumed coverage on shares of Workhorse Group in a research report on Friday, April 16th. They issued a “buy” rating and a $20.00 target price on the stock. Colliers Securities reaffirmed a “neutral” rating on shares of Workhorse Group in a research report on Thursday, July 1st. Cowen downgraded shares of Workhorse Group from an “outperform” rating to a “market perform” rating and set a $13.00 price objective on the stock. in a research report on Friday, June 4th. Roth Capital lowered their price objective on shares of Workhorse Group from $15.00 to $8.50 and set a “neutral” rating on the stock in a research report on Monday, May 10th. Finally, TheStreet downgraded shares of Workhorse Group from a “c-” rating to a “d” rating in a research report on Wednesday, June 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $20.50.
Workhorse Group Company Profile
Workhorse Group Inc, a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.
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