Allspring Global Investments Holdings LLC grew its holdings in Workhorse Group Inc. (NASDAQ:WKHS – Get Rating) by 220.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,152 shares of the company's stock after acquiring an additional 17,979 shares during the period. Allspring Global Investments Holdings LLC's holdings in Workhorse Group were worth $75,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mackenzie Financial Corp acquired a new position in shares of Workhorse Group in the 2nd quarter valued at $28,000. Merit Financial Group LLC acquired a new position in shares of Workhorse Group in the 2nd quarter valued at $29,000. Carnegie Capital Asset Management LLC acquired a new position in shares of Workhorse Group in the 2nd quarter valued at $31,000. Beacon Capital Management LLC lifted its stake in shares of 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 purchasing an additional 6,655 shares during the period. Finally, AE Wealth Management LLC lifted its stake in shares of Workhorse Group by 63.2% in the 2nd quarter. AE Wealth Management LLC now owns 17,179 shares of the company's stock valued at $45,000 after purchasing an additional 6,655 shares during the period. 32.09% of the stock is owned by hedge funds and other institutional investors.

Workhorse Group Stock Up 7.2 %

Workhorse Group stock opened at $2.23 on Monday. Workhorse Group Inc. has a 52-week low of $1.40 and a 52-week high of $5.39. The firm has a market capitalization of $365.94 million, a price-to-earnings ratio of -1.37 and a beta of 2.74. The company has a fifty day simple moving average of $1.92 and a 200-day simple moving average of $2.64.

Insider Transactions at Workhorse Group

In other Workhorse Group news, CEO Richard F. Dauch bought 50,000 shares of the company's stock in a transaction dated Thursday, December 8th. The stock was acquired at an average price of $1.87 per share, with a total value of $93,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,892,834 shares of the company's stock, valued at $3,539,599.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Richard F. Dauch acquired 50,000 shares of the company's stock in a transaction that occurred on Thursday, December 8th. The stock was purchased at an average price of $1.87 per share, with a total value of $93,500.00. Following the completion of the acquisition, the chief executive officer now owns 1,892,834 shares of the company's stock, valued at approximately $3,539,599.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond Joseph Chess acquired 25,000 shares of the company's stock in a transaction that occurred on Thursday, December 8th. The stock was purchased at an average cost of $1.91 per share, with a total value of $47,750.00. Following the acquisition, the director now directly owns 186,282 shares of the company's stock, valued at approximately $355,798.62. The disclosure for this purchase can be found here. Insiders own 4.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Cowen boosted their target price on shares of Workhorse Group to $5.00 in a research note on Monday, December 12th. BTIG Research reduced their price objective on shares of Workhorse Group to $8.00 in a research report on Tuesday, November 15th. B. Riley reduced their price objective on shares of Workhorse Group from $5.00 to $4.00 in a research report on Friday, December 9th. Finally, R. F. Lafferty reduced their price objective on shares of Workhorse Group from $6.00 to $5.00 in a research report on Wednesday, November 9th.

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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