Workhorse Group (NASDAQ:WKHS) Given New $1.25 Price Target at TD Cowen

Workhorse Group (NASDAQ:WKHS) had its price objective raised by stock analysts at TD Cowen from $0.25 to $1.25 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 17.92% from the company’s current price.

Workhorse Group Stock Performance

Workhorse Group stock traded down $0.16 during mid-day trading on Wednesday, hitting $1.06. 2,344,890 shares of the company traded hands, compared to its average volume of 1,482,694. Workhorse Group has a one year low of $0.57 and a one year high of $8.78. The stock has a market cap of $25.82 million, a price-to-earnings ratio of -0.11 and a beta of 2.55. The stock has a fifty day moving average price of $0.84 and a 200-day moving average price of $1.72.

Workhorse Group (NASDAQ:WKHS) last announced its earnings results on Monday, August 19th. The company reported ($1.40) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $0.84 million during the quarter, compared to analyst estimates of $3.00 million. During the same period in the previous year, the business earned ($2.40) earnings per share. Sell-side analysts predict that Workhorse Group will post -4.65 EPS for the current year.

Hedge Funds Weigh In On Workhorse Group

A number of large investors have recently modified their holdings of the company. Jane Street Group LLC raised its position in Workhorse Group by 91.6% in the 3rd quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock worth $35,000 after purchasing an additional 19,473 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Workhorse Group in the second quarter worth about $55,000. Sei Investments Co. purchased a new position in shares of Workhorse Group in the second quarter worth about $69,000. Geode Capital Management LLC grew its position in Workhorse Group by 76.9% during the 3rd quarter. Geode Capital Management LLC now owns 283,270 shares of the company’s stock worth $246,000 after acquiring an additional 123,150 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Workhorse Group by 83.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock valued at $78,000 after purchasing an additional 149,960 shares during the period. 15.98% of the stock is owned by hedge funds and other institutional investors.

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.