Zacks: Brokerages Set $2.00 Target Price for Workhorse Group Inc (WKHS)

Workhorse Group Inc (NASDAQ:WKHS) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price target of $2.00 for the company, according to Zacks. Zacks has also assigned Workhorse Group an industry rank of 168 out of 256 based on the ratings given to its competitors.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WKHS. Jane Street Group LLC purchased a new stake in shares of Workhorse Group during the third quarter worth about $115,000. Vanguard Group Inc. boosted its stake in shares of Workhorse Group by 8.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,180,358 shares of the company’s stock valued at $1,263,000 after purchasing an additional 91,823 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Workhorse Group by 8.4% in the 3rd quarter. Vanguard Group Inc now owns 1,180,358 shares of the company’s stock valued at $1,263,000 after purchasing an additional 91,823 shares during the last quarter. First Manhattan Co. boosted its stake in shares of Workhorse Group by 66.0% in the 4th quarter. First Manhattan Co. now owns 975,800 shares of the company’s stock valued at $515,000 after purchasing an additional 387,800 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Workhorse Group by 42.9% in the 4th quarter. BlackRock Inc. now owns 133,715 shares of the company’s stock valued at $71,000 after purchasing an additional 40,139 shares during the last quarter. Institutional investors and hedge funds own 13.08% of the company’s stock.

Shares of WKHS traded up $0.01 during mid-day trading on Wednesday, reaching $1.96. The company’s stock had a trading volume of 4,080,199 shares, compared to its average volume of 5,836,070. Workhorse Group has a 12-month low of $0.37 and a 12-month high of $3.27. The company has a market cap of $136.80 million, a P/E ratio of -2.55 and a beta of 1.47.

Workhorse Group (NASDAQ:WKHS) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $0.36 million during the quarter.

About Workhorse Group

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 systems that enable fleet operators to optimize energy and route efficiency.

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