Traders Purchase High Volume of Call Options on Workhorse Group (NASDAQ:WKHS)

Workhorse Group Inc. (NASDAQ:WKHS) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 15,770 call options on the company. This represents an increase of 1,241% compared to the typical volume of 1,176 call options.

Workhorse Group Stock Down 4.2 %

Workhorse Group stock opened at $1.38 on Thursday. The company has a market capitalization of $33.62 million, a PE ratio of -0.14 and a beta of 2.55. Workhorse Group has a 12-month low of $0.57 and a 12-month high of $8.78. The firm’s fifty day moving average is $0.80 and its 200 day moving average is $1.77.

Workhorse Group (NASDAQ:WKHS) last announced its quarterly earnings data on Monday, August 19th. The company reported ($1.40) earnings per share for the quarter, meeting the consensus estimate of ($1.40). Workhorse Group had a negative net margin of 1,366.25% and a negative return on equity of 163.23%. The firm had revenue of $0.84 million for the quarter, compared to analyst estimates of $3.00 million. During the same quarter in the prior year, the business earned ($2.40) earnings per share. Sell-side analysts expect that Workhorse Group will post -4.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Workhorse Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in Workhorse Group in the 2nd quarter valued at $55,000. Sei Investments Co. acquired a new position in shares of Workhorse Group during the second quarter valued at about $69,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Workhorse Group by 83.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock worth $78,000 after acquiring an additional 149,960 shares during the last quarter. Swedbank AB bought a new position in Workhorse Group in the 1st quarter valued at about $303,000. Finally, Vanguard Group Inc. boosted its stake in Workhorse Group by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 10,323,640 shares of the company’s stock valued at $2,422,000 after purchasing an additional 453,085 shares during the last quarter. Institutional investors own 15.98% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD Cowen dropped their price objective on Workhorse Group from $3.00 to $0.25 and set a “hold” rating on the stock in a research note on Wednesday, August 21st.

Workhorse Group Company Profile

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.