Shares of Workhorse Group Inc. (NASDAQ:WKHS – Get Rating) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.37 and traded as low as $2.70. Workhorse Group shares last traded at $2.72, with a volume of 2,618,678 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WKHS shares. Roth Capital cut Workhorse Group from a "buy" rating to a "neutral" rating and cut their price target for the stock from $7.00 to $3.50 in a research note on Tuesday, August 9th. Cowen raised their price target on Workhorse Group to $5.50 in a research report on Monday, August 15th.

Workhorse Group Stock Up 1.1 %

The business's 50-day moving average is $3.37 and its two-hundred day moving average is $3.31. The company has a market capitalization of $445.38 million, a P/E ratio of -1.25 and a beta of 2.91.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its position in Workhorse Group by 33.5% during the 2nd quarter. Federated Hermes Inc. now owns 410,001 shares of the company's stock valued at $1,066,000 after purchasing an additional 102,881 shares during the period. Legal & General Group Plc grew its position in shares of 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 buying an additional 44,100 shares during the period. Goldman Sachs Group Inc. grew its position 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 buying an additional 208,038 shares during the period. Creative Planning grew its position 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 buying an additional 8,250 shares during the period. Finally, State Street Corp grew its position 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 buying an additional 3,218,734 shares during the period. 31.78% of the stock is owned by hedge funds and other 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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