Workhorse Group (NASDAQ:WKHS) Shares Cross Below 200-Day Moving Average – Here’s Why

Workhorse Group Inc. (NASDAQ:WKHS) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.03 and traded as low as $0.73. Workhorse Group shares last traded at $0.76, with a volume of 3,550,306 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WKHS shares. StockNews.com raised Workhorse Group to a “sell” rating in a research note on Friday. TD Cowen raised their target price on Workhorse Group from $0.25 to $1.25 and gave the company a “hold” rating in a research note on Wednesday, November 20th.

Workhorse Group Stock Down 6.7 %

The firm has a market capitalization of $31.29 million, a price-to-earnings ratio of -0.10 and a beta of 2.70. The firm’s 50 day moving average is $0.95 and its 200 day moving average is $1.03.

Institutional Investors Weigh In On Workhorse Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Workhorse Group during the second quarter worth $55,000. Jane Street Group LLC boosted its position in shares of Workhorse Group by 91.6% in the 3rd quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock valued at $35,000 after purchasing an additional 19,473 shares during the period. Sei Investments Co. purchased a new position in Workhorse Group in the 2nd quarter worth about $69,000. Virtu Financial LLC acquired a new stake in Workhorse Group during the 3rd quarter worth about $51,000. Finally, Geode Capital Management LLC lifted its stake in Workhorse Group by 76.9% during the third quarter. Geode Capital Management LLC now owns 283,270 shares of the company’s stock valued at $246,000 after buying an additional 123,150 shares in the last quarter. Institutional investors and hedge funds own 15.98% of the company’s stock.

Workhorse Group Company Profile

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.