Workhorse Group Target of Unusually High Options Trading (NASDAQ:WKHS)

Workhorse Group Inc. (NASDAQ:WKHS) was the target of unusually large options trading on Tuesday. Traders bought 15,770 call options on the stock. This represents an increase of 1,241% compared to the typical volume of 1,176 call options.

Wall Street Analyst Weigh In

Separately, TD Cowen reduced their target price on Workhorse Group from $3.00 to $0.25 and set a “hold” rating for the company in a research report on Wednesday, August 21st.

Workhorse Group Trading Up 21.0 %

WKHS opened at $1.44 on Wednesday. The stock has a 50-day moving average price of $0.77 and a 200-day moving average price of $1.78. Workhorse Group has a 12-month low of $0.57 and a 12-month high of $8.78. The stock has a market capitalization of $35.08 million, a P/E ratio of -0.15 and a beta of 2.55.

Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings data on Monday, August 19th. The company reported ($1.40) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.40). Workhorse Group had a negative return on equity of 163.23% and a negative net margin of 1,366.25%. The firm had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $3.00 million. During the same period in the prior year, the business earned ($2.40) EPS. On average, equities research analysts predict that Workhorse Group will post -4.65 EPS for the current year.

Hedge Funds Weigh In On Workhorse Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Workhorse Group in the 2nd quarter valued at about $55,000. Sei Investments Co. bought a new stake in shares of Workhorse Group in the 2nd quarter valued at about $69,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Workhorse Group by 83.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 330,457 shares of the company’s stock valued at $78,000 after acquiring an additional 149,960 shares during the last quarter. Swedbank AB bought a new stake in shares of Workhorse Group in the 1st quarter valued at about $303,000. Finally, Vanguard Group Inc. lifted its stake in shares of Workhorse Group by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 10,323,640 shares of the company’s stock valued at $2,422,000 after acquiring an additional 453,085 shares during the last quarter. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

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.