Workhorse Group Inc. (NASDAQ:WKHS) Director Sells $67,726.53 in Stock

Workhorse Group Inc. (NASDAQ:WKHSGet Rating) Director Harry Demott sold 27,871 shares of the company’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $2.43, for a total value of $67,726.53. Following the completion of the transaction, the director now directly owns 33,003 shares of the company’s stock, valued at approximately $80,197.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Workhorse Group Trading Down 3.6 %

Shares of Workhorse Group stock opened at $2.17 on Friday. The stock has a 50 day moving average of $2.62 and a 200 day moving average of $2.94. Workhorse Group Inc. has a 12 month low of $2.11 and a 12 month high of $6.10. The firm has a market cap of $356.10 million, a PE ratio of -1.33 and a beta of 2.73.

Institutional Investors Weigh In On Workhorse Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WKHS. Nisa Investment Advisors LLC raised its position in Workhorse Group by 1,301.3% during the first quarter. Nisa Investment Advisors LLC now owns 66,420 shares of the company’s stock valued at $332,000 after purchasing an additional 61,680 shares during the period. Daiwa Securities Group Inc. raised its position in Workhorse Group by 45.7% during the first quarter. Daiwa Securities Group Inc. now owns 24,361 shares of the company’s stock valued at $122,000 after purchasing an additional 7,646 shares during the period. Arizona State Retirement System raised its position in Workhorse Group by 40.4% during the first quarter. Arizona State Retirement System now owns 42,165 shares of the company’s stock valued at $211,000 after purchasing an additional 12,141 shares during the period. Commonwealth Equity Services LLC raised its position in Workhorse Group by 10.9% during the first quarter. Commonwealth Equity Services LLC now owns 53,496 shares of the company’s stock valued at $267,000 after purchasing an additional 5,261 shares during the period. Finally, Ameritas Advisory Services LLC raised its position in Workhorse Group by 18.7% during the first quarter. Ameritas Advisory Services LLC now owns 62,908 shares of the company’s stock valued at $315,000 after purchasing an additional 9,900 shares during the period. 31.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WKHS. Cowen dropped their price objective on Workhorse Group to $4.50 in a research note on Tuesday, November 15th. B. Riley dropped their price objective on Workhorse Group from $6.00 to $5.00 in a research note on Wednesday, November 9th. R. F. Lafferty dropped their price target on Workhorse Group from $6.00 to $5.00 in a research note on Wednesday, November 9th. BTIG Research dropped their price target on Workhorse Group to $8.00 in a research note on Tuesday, November 15th. Finally, Roth Capital lowered Workhorse Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $3.50 in a research note on Tuesday, August 9th.

About Workhorse Group

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Workhorse Group Inc, a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers electric and range-extended medium-duty delivery trucks under the Workhorse brand; and HorseFly Unmanned Aerial System, a custom-designed purpose-built all-electric drone system.

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