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

Workhorse Group Inc. (NASDAQ:WKHS) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 8,100,000 shares, a growth of 35.5% from the December 15th total of 5,980,000 shares. Approximately 20.2% of the shares of the company are short sold. Based on an average daily trading volume, of 3,220,000 shares, the short-interest ratio is presently 2.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WKHS. Cubist Systematic Strategies LLC bought a new position in shares of Workhorse Group in the second quarter valued at approximately $55,000. Geode Capital Management LLC increased its holdings in Workhorse Group by 76.9% during the 3rd quarter. Geode Capital Management LLC now owns 283,270 shares of the company’s stock worth $246,000 after acquiring an additional 123,150 shares during the period. Sei Investments Co. purchased a new stake in Workhorse Group in the 2nd quarter worth approximately $69,000. Jane Street Group LLC boosted its holdings in 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. Finally, Virtu Financial LLC purchased a new position in shares of Workhorse Group during the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 15.98% of the company’s stock.

Analyst Ratings Changes

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

Workhorse Group Stock Performance

Shares of NASDAQ WKHS opened at $0.71 on Friday. Workhorse Group has a fifty-two week low of $0.57 and a fifty-two week high of $8.18. The stock has a market cap of $29.19 million, a PE ratio of -0.09 and a beta of 2.70. The stock has a fifty day moving average of $0.95 and a 200-day moving average of $1.00.

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.