Stock Traders Purchase High Volume of Workhorse Group Call Options (NASDAQ:WKHS)

Workhorse Group Inc. (NASDAQ:WKHS) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 15,770 call options on the stock. This represents an increase of approximately 1,241% compared to the typical volume of 1,176 call options.

Hedge Funds Weigh In On Workhorse Group

Several institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Workhorse Group in the second quarter valued at $55,000. Sei Investments Co. bought a new stake in Workhorse Group in the 2nd quarter valued at about $69,000. Price T Rowe Associates Inc. MD lifted its holdings in Workhorse Group by 83.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock valued at $78,000 after purchasing an additional 149,960 shares during the last quarter. Swedbank AB purchased a new stake in Workhorse Group during the first quarter valued at about $303,000. Finally, Vanguard Group Inc. boosted its position in Workhorse Group by 4.6% during the first quarter. Vanguard Group Inc. now owns 10,323,640 shares of the company’s stock worth $2,422,000 after purchasing an additional 453,085 shares during the period. Hedge funds and other institutional investors own 15.98% of the company’s stock.

Workhorse Group Price Performance

Shares of Workhorse Group stock opened at $1.38 on Thursday. The firm has a market cap of $33.62 million, a PE ratio of -0.14 and a beta of 2.55. Workhorse Group has a 1 year low of $0.57 and a 1 year high of $8.78. The stock has a fifty day moving average price of $0.80 and a 200-day moving average price of $1.77.

Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings data on Monday, August 19th. The company reported ($1.40) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.40). The business had revenue of $0.84 million during the quarter, compared to the consensus estimate of $3.00 million. Workhorse Group had a negative net margin of 1,366.25% and a negative return on equity of 163.23%. During the same quarter last year, the company posted ($2.40) earnings per share. As a group, equities analysts anticipate that Workhorse Group will post -4.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price target on shares of Workhorse Group from $3.00 to $0.25 and set a “hold” rating on the stock in a research report on Wednesday, August 21st.

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.