Shares of Workhorse Group Inc. (NASDAQ:WKHS – Get Rating) rose 5% on Thursday . The company traded as high as $3.43 and last traded at $3.37. Approximately 67,277 shares were traded during trading, a decline of 98% from the average daily volume of 2,754,377 shares. The stock had previously closed at $3.21.

Wall Street Analysts Forecast Growth

WKHS has been the topic of a number of recent analyst reports. Cowen upped their price objective on Workhorse Group to $5.50 in a report on Monday, August 15th. Roth Capital lowered Workhorse Group from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $3.50 in a report on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.25.

Workhorse Group Price Performance

The stock has a 50-day simple moving average of $3.36 and a 200 day simple moving average of $3.36. The company has a market capitalization of $497.77 million, a PE ratio of -1.39 and a beta of 2.91.

Institutional Trading of Workhorse Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its position in shares of Workhorse Group by 33.5% in the second quarter. Federated Hermes Inc. now owns 410,001 shares of the company's stock valued at $1,066,000 after acquiring an additional 102,881 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Workhorse Group by 50.9% in the second quarter. Legal & General Group Plc now owns 130,797 shares of the company's stock valued at $341,000 after acquiring an additional 44,100 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Workhorse Group by 100.9% in the second quarter. Goldman Sachs Group Inc. now owns 414,264 shares of the company's stock valued at $1,077,000 after acquiring an additional 208,038 shares in the last quarter. Creative Planning lifted its position in shares of Workhorse Group by 60.4% in the second quarter. Creative Planning now owns 21,901 shares of the company's stock valued at $57,000 after acquiring an additional 8,250 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Workhorse Group by 89.1% in the second quarter. State Street Corp now owns 6,830,904 shares of the company's stock valued at $17,760,000 after acquiring an additional 3,218,734 shares in the last quarter. 31.78% of the stock is currently owned by hedge funds and other institutional investors.

Workhorse Group Company Profile

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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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