Shares of Workhorse Group Inc. (NASDAQ:WKHS – Get Rating) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $3.35 and traded as low as $3.01. Workhorse Group shares last traded at $3.21, with a volume of 2,634,948 shares traded.

Analysts Set New Price Targets

Several research firms have weighed in on WKHS. Roth Capital cut Workhorse Group from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $7.00 to $3.50 in a research report on Tuesday, August 9th. Cowen lifted their price target on Workhorse Group to $5.50 in a research note on Monday, August 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $5.25.

Workhorse Group Stock Up 5.2 %

The stock has a market cap of $525.61 million, a price-to-earnings ratio of -1.47 and a beta of 2.91. The stock has a 50 day simple moving average of $3.35 and a 200 day simple moving average of $3.36.

Institutional Trading of Workhorse Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in Workhorse Group by 50.9% in the 2nd quarter. Legal & General Group Plc now owns 130,797 shares of the company's stock worth $341,000 after acquiring an additional 44,100 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Workhorse Group by 100.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 414,264 shares of the company's stock worth $1,077,000 after purchasing an additional 208,038 shares in the last quarter. Creative Planning boosted its holdings in shares of Workhorse Group by 60.4% in the 2nd quarter. Creative Planning now owns 21,901 shares of the company's stock worth $57,000 after purchasing an additional 8,250 shares in the last quarter. State Street Corp boosted its holdings in shares of Workhorse Group by 89.1% in the 2nd quarter. State Street Corp now owns 6,830,904 shares of the company's stock worth $17,760,000 after purchasing an additional 3,218,734 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Workhorse Group by 52.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 641,130 shares of the company's stock worth $1,667,000 after purchasing an additional 219,762 shares in the last quarter. 31.78% of the stock is currently owned by institutional investors.

About Workhorse Group

(Get Rating)

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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