Workhorse Group (WKHS) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Workhorse Group (NASDAQ:WKHS) issued its quarterly earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02, MarketWatch Earnings reports. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.60 million. Workhorse Group had a negative return on equity of 1,564.64% and a negative net margin of 403.52%.

Shares of Workhorse Group stock traded up $0.06 on Thursday, hitting $0.81. 300 shares of the company’s stock traded hands, compared to its average volume of 270,965. Workhorse Group has a one year low of $0.70 and a one year high of $3.45. The firm has a market cap of $46.42 million, a price-to-earnings ratio of -0.73 and a beta of 0.12.

WKHS has been the topic of several research analyst reports. Cowen cut their target price on Workhorse Group from $5.50 to $4.00 and set an “outperform” rating on the stock in a research report on Friday, July 13th. B. Riley cut their target price on Workhorse Group from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, July 11th. Finally, Zacks Investment Research upgraded Workhorse Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Workhorse Group currently has an average rating of “Buy” and a consensus price target of $4.67.

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of Workhorse Group by 1,165.6% during the 2nd quarter. Bank of America Corp DE now owns 56,357 shares of the company’s stock valued at $103,000 after purchasing an additional 51,904 shares in the last quarter. First Manhattan Co. boosted its position in shares of Workhorse Group by 409.8% during the 2nd quarter. First Manhattan Co. now owns 311,000 shares of the company’s stock valued at $566,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its position in shares of Workhorse Group by 6.5% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,122,439 shares of the company’s stock valued at $2,043,000 after purchasing an additional 68,382 shares in the last quarter. Institutional investors own 8.54% of the company’s stock.

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Workhorse Group Company Profile

Workhorse Group Inc designs, manufactures, builds, sells, and leases battery-electric vehicles and aircraft in the United States. It operates through two divisions, Automotive and Aviation. The company also develops cloud-based and real-time telematics performance monitoring system that enables fleet operators to optimize energy and route efficiency.

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Earnings History for Workhorse Group (NASDAQ:WKHS)

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