Workhorse Group (NASDAQ:WKHS) Shares Down 4.4%

Workhorse Group Inc (NASDAQ:WKHS)’s stock price traded down 4.4% on Monday . The company traded as low as $3.20 and last traded at $3.06, 43,623 shares traded hands during mid-day trading. A decline of 97% from the average session volume of 1,253,372 shares. The stock had previously closed at $3.20.

A number of equities analysts have weighed in on the stock. ValuEngine cut shares of Workhorse Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. BidaskClub cut shares of Workhorse Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 5th.

The business’s 50-day simple moving average is $3.38 and its two-hundred day simple moving average is $2.77.

Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.10) earnings per share for the quarter. The business had revenue of $0.01 million for the quarter.

Several hedge funds have recently modified their holdings of the company. Prospera Financial Services Inc lifted its position in shares of Workhorse Group by 70.2% during the third quarter. Prospera Financial Services Inc now owns 41,225 shares of the company’s stock worth $144,000 after purchasing an additional 17,000 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Workhorse Group by 2,077.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 50,510 shares of the company’s stock worth $148,000 after purchasing an additional 48,190 shares during the last quarter. First Manhattan Co. lifted its position in shares of Workhorse Group by 77.1% during the second quarter. First Manhattan Co. now owns 3,055,908 shares of the company’s stock worth $8,984,000 after purchasing an additional 1,330,108 shares during the last quarter. HBK Sorce Advisory LLC bought a new position in shares of Workhorse Group during the second quarter worth about $76,000. Finally, Vanguard Group Inc. lifted its position in shares of Workhorse Group by 135.4% during the second quarter. Vanguard Group Inc. now owns 2,396,515 shares of the company’s stock worth $7,045,000 after purchasing an additional 1,378,428 shares during the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

About Workhorse Group (NASDAQ:WKHS)

Workhorse Group Inc designs, manufactures, builds, sells, and leases battery-electric vehicles and aircraft in the United States. It operates through two divisions, Automotive and Aviation. 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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