TD Cowen Forecasts Strong Price Appreciation for Workhorse Group (NASDAQ:WKHS) Stock

Workhorse Group (NASDAQ:WKHS) had its target price raised by stock analysts at TD Cowen from $0.25 to $1.25 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target indicates a potential upside of 30.11% from the stock’s current price.

Workhorse Group Trading Down 8.5 %

NASDAQ WKHS opened at $0.96 on Wednesday. The company has a market cap of $23.40 million, a P/E ratio of -0.11 and a beta of 2.55. The company has a fifty day simple moving average of $0.85 and a 200 day simple moving average of $1.70. Workhorse Group has a 12-month low of $0.57 and a 12-month high of $8.78.

Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings data on Monday, August 19th. The company reported ($1.40) EPS for the quarter, meeting the consensus estimate of ($1.40). Workhorse Group had a negative net margin of 1,383.63% and a negative return on equity of 176.73%. The firm had revenue of $0.84 million during the quarter, compared to analyst estimates of $3.00 million. During the same quarter last year, the business posted ($2.40) EPS. Sell-side analysts predict that Workhorse Group will post -4.65 EPS for the current year.

Hedge Funds Weigh In On Workhorse Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Workhorse Group by 4.6% during 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 period. Price T Rowe Associates Inc. MD lifted its position in 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 worth $78,000 after buying an additional 149,960 shares during the last quarter. Swedbank AB purchased a new stake in shares of Workhorse Group in the 1st quarter valued at $303,000. Sei Investments Co. bought a new position in shares of Workhorse Group during the second quarter valued at about $69,000. Finally, Cubist Systematic Strategies LLC bought a new position in Workhorse Group during the 2nd quarter worth approximately $55,000. 15.98% of the stock is owned by 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.