Workhorse Group Inc. (NASDAQ:WKHS) Sees Significant Growth in Short Interest

Workhorse Group Inc. (NASDAQ:WKHS) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 9,270,000 shares, a growth of 26.1% from the January 15th total of 7,350,000 shares. Based on an average trading volume of 3,750,000 shares, the short-interest ratio is presently 2.5 days. Currently, 23.1% of the company’s stock are sold short.

Workhorse Group Stock Performance

WKHS stock opened at $0.58 on Friday. The business has a 50-day simple moving average of $0.73 and a two-hundred day simple moving average of $0.85. The company has a market capitalization of $23.86 million, a P/E ratio of -0.07 and a beta of 2.67. Workhorse Group has a 52-week low of $0.46 and a 52-week high of $8.18.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WKHS. StockNews.com raised Workhorse Group to a “sell” rating in a research report on Friday, January 10th. TD Cowen upped their price objective on shares of Workhorse Group from $0.25 to $1.25 and gave the stock a “hold” rating in a report on Wednesday, November 20th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WKHS. Geode Capital Management LLC grew its holdings in Workhorse Group by 17.4% during the fourth quarter. Geode Capital Management LLC now owns 332,561 shares of the company’s stock worth $232,000 after buying an additional 49,291 shares in the last quarter. Swedbank AB boosted its holdings in Workhorse Group by 46.2% during the 4th quarter. Swedbank AB now owns 95,796 shares of the company’s stock worth $67,000 after acquiring an additional 30,294 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Workhorse Group in the 3rd quarter worth $51,000. Jane Street Group LLC raised its holdings in shares of Workhorse Group by 91.6% in the third 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 last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Workhorse Group during the second quarter valued at about $55,000. Institutional investors own 15.98% of the company’s stock.

About Workhorse Group

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.