SG Americas Securities LLC increased its position in shares of Workhorse Group Inc. (NASDAQ:WKHS – Get Rating) by 138.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,874 shares of the company's stock after purchasing an additional 38,283 shares during the period. SG Americas Securities LLC's holdings in Workhorse Group were worth $189,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in WKHS. Private Advisor Group LLC boosted its position in shares of Workhorse Group by 27.6% during the second quarter. Private Advisor Group LLC now owns 18,103 shares of the company's stock valued at $47,000 after buying an additional 3,912 shares during the period. Advisory Services Network LLC boosted its holdings in Workhorse Group by 16.9% during the 2nd quarter. Advisory Services Network LLC now owns 32,400 shares of the company's stock valued at $84,000 after acquiring an additional 4,694 shares during the period. Beacon Capital Management LLC grew its position in Workhorse Group by 110.9% in the 3rd quarter. Beacon Capital Management LLC now owns 12,655 shares of the company's stock valued at $33,000 after acquiring an additional 6,655 shares during the last quarter. AE Wealth Management LLC increased its stake in Workhorse Group by 63.2% in the second quarter. AE Wealth Management LLC now owns 17,179 shares of the company's stock worth $45,000 after purchasing an additional 6,655 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Workhorse Group by 58.6% during the second quarter. Principal Financial Group Inc. now owns 21,740 shares of the company's stock worth $57,000 after purchasing an additional 8,034 shares during the last quarter. 32.09% of the stock is currently owned by institutional investors.
Get Workhorse Group alerts:Workhorse Group Stock Performance
NASDAQ WKHS opened at $2.49 on Friday. The company has a market cap of $408.61 million, a PE ratio of -1.53 and a beta of 2.82. The firm's 50 day moving average price is $1.93 and its 200-day moving average price is $2.63. Workhorse Group Inc. has a 52-week low of $1.40 and a 52-week high of $5.39.
Workhorse Group (NASDAQ:WKHS – Get Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.10). The business had revenue of $1.55 million during the quarter, compared to the consensus estimate of $3.25 million. On average, analysts forecast that Workhorse Group Inc. will post -0.65 earnings per share for the current fiscal year.Insider Activity at Workhorse Group
In other news, Director Raymond Joseph Chess bought 25,000 shares of Workhorse Group stock in a transaction on Thursday, December 8th. The stock was acquired at an average cost of $1.91 per share, for a total transaction of $47,750.00. Following the completion of the acquisition, the director now owns 186,282 shares of the company's stock, valued at approximately $355,798.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Harry Demott sold 27,871 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $2.43, for a total transaction of $67,726.53. Following the completion of the sale, the director now owns 33,003 shares in the company, valued at approximately $80,197.29. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Raymond Joseph Chess acquired 25,000 shares of the stock in a transaction dated Thursday, December 8th. The stock was acquired at an average cost of $1.91 per share, with a total value of $47,750.00. Following the transaction, the director now directly owns 186,282 shares in the company, valued at $355,798.62. The disclosure for this purchase can be found here. 4.06% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Cowen raised their price target on shares of Workhorse Group to $5.00 in a research note on Monday, December 12th. R. F. Lafferty decreased their price target on shares of Workhorse Group from $6.00 to $5.00 in a research note on Wednesday, November 9th. B. Riley dropped their price objective on Workhorse Group from $5.00 to $4.00 in a research note on Friday, December 9th. Finally, BTIG Research decreased their target price on Workhorse Group to $8.00 in a research report on Tuesday, November 15th.
Workhorse Group Company Profile
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Workhorse Group, Inc is a technology company, which engages in the provision of sustainable solutions to the commercial transportation sector. It operates as an original equipment manufacturer, which designs and builds battery-electric vehicles including trucks and aircraft. The firm also creates all-electric delivery trucks and drone systems.
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