Workhorse Group (NASDAQ:WKHS) Shares Cross Below 200 Day Moving Average – Here’s Why

Workhorse Group Inc. (NASDAQ:WKHS) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.03 and traded as low as $0.73. Workhorse Group shares last traded at $0.76, with a volume of 3,550,306 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WKHS. StockNews.com raised shares of Workhorse Group to a “sell” rating in a report on Friday. TD Cowen lifted their price objective on shares of Workhorse Group from $0.25 to $1.25 and gave the company a “hold” rating in a research note on Wednesday, November 20th.

Workhorse Group Price Performance

The firm has a market cap of $31.25 million, a PE ratio of -0.10 and a beta of 2.70. The business has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.02.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WKHS. Virtu Financial LLC acquired a new stake in shares of Workhorse Group during the third quarter worth $51,000. Geode Capital Management LLC boosted its stake in Workhorse Group by 76.9% in the 3rd quarter. Geode Capital Management LLC now owns 283,270 shares of the company’s stock worth $246,000 after buying an additional 123,150 shares during the last quarter. Jane Street Group LLC grew its holdings in Workhorse Group by 91.6% in the 3rd quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock valued at $35,000 after buying an additional 19,473 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Workhorse Group during the 2nd quarter valued at about $55,000. Finally, Sei Investments Co. purchased a new stake in Workhorse Group in the second quarter valued at approximately $69,000. 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.