Workhorse Group (NASDAQ:WKHS) Announces Earnings Results

Workhorse Group (NASDAQ:WKHS) announced its quarterly earnings results on Monday. The company reported ($1.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.06, Zacks reports. The company had revenue of $2.38 million during the quarter, compared to the consensus estimate of $2.50 million. Workhorse Group had a negative return on equity of 210.72% and a negative net margin of 760.65%.

Workhorse Group Stock Down 9.3%

NASDAQ:WKHS traded down $0.07 during midday trading on Tuesday, reaching $0.71. The stock had a trading volume of 2,035,370 shares, compared to its average volume of 1,489,966. The stock has a market cap of $13.54 million, a P/E ratio of -0.04 and a beta of 2.72. The firm has a fifty day simple moving average of $1.09 and a two-hundred day simple moving average of $1.30. Workhorse Group has a 12-month low of $0.69 and a 12-month high of $24.25.

Analyst Ratings Changes

WKHS has been the topic of several research analyst reports. Wall Street Zen raised Workhorse Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Workhorse Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $15.63.

Institutional Trading of Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC lifted its position in shares of Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,684 shares of the company’s stock after acquiring an additional 11,073 shares during the quarter. Geode Capital Management LLC owned 0.47% of Workhorse Group worth $49,000 at the end of the most recent quarter. Institutional investors and hedge funds own 15.98% of the company’s stock.

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.