Workhorse Group, Inc. (NASDAQ:WKHS) Sees Large Increase in Short Interest

Workhorse Group, Inc. (NASDAQ:WKHS) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totaling 426,622 shares, an increase of 14.1% from the March 31st total of 373,796 shares. Based on an average trading volume of 134,781 shares, the days-to-cover ratio is presently 3.2 days. Currently, 4.2% of the company’s stock are sold short.

Workhorse Group Trading Up 23.9%

NASDAQ:WKHS opened at $2.90 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.53 and a current ratio of 1.54. Workhorse Group has a one year low of $2.31 and a one year high of $67.32. The business’s 50-day simple moving average is $3.03 and its 200 day simple moving average is $6.02. The stock has a market cap of $30.31 million, a price-to-earnings ratio of -0.03 and a beta of 2.64.

Workhorse Group (NASDAQ:WKHS) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($2.35) EPS for the quarter, topping the consensus estimate of ($8.88) by $6.53. Workhorse Group had a negative return on equity of 239.58% and a negative net margin of 363.15%.The business had revenue of $12.52 million for the quarter, compared to analysts’ expectations of $2.00 million. As a group, sell-side analysts predict that Workhorse Group will post -5.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Workhorse Group stock. Geode Capital Management LLC increased its holdings in Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,684 shares of the company’s stock after acquiring an additional 11,073 shares during the quarter. Geode Capital Management LLC owned approximately 0.47% of Workhorse Group worth $49,000 as of its most recent filing with the SEC. Institutional investors own 15.98% of the company’s stock.

Workhorse Group Company Profile

Workhorse Group Inc is a U.S.-based technology company specializing in the design and manufacture of electric vehicles and drone-integrated delivery solutions. Founded in 2007 and headquartered in Loveland, Ohio, Workhorse focuses on last-mile delivery, combining electric powertrain systems, advanced telematics and proprietary composite bodies to address the growing demand for sustainable logistics fleets.

The company’s core product lineup includes the N-GEN™ chassis, a modular electric vehicle platform available in Class 3–5 configurations, and the C-1000™ all-electric delivery van.