BidaskClub Downgrades Workhorse Group (NASDAQ:WKHS) to Buy

Workhorse Group (NASDAQ:WKHS) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday, September 5th, BidAskClub reports.

Separately, ValuEngine lowered Workhorse Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

WKHS traded down $0.17 during trading hours on Thursday, reaching $2.80. The company’s stock had a trading volume of 793,252 shares, compared to its average volume of 2,595,610. Workhorse Group has a fifty-two week low of $0.37 and a fifty-two week high of $5.37. The business’s 50-day moving average is $3.83 and its 200-day moving average is $2.17.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Marietta Wealth Management LLC acquired a new stake in Workhorse Group in the first quarter valued at about $31,000. Cutter & CO Brokerage Inc. acquired a new stake in Workhorse Group in the second quarter valued at about $705,000. Wells Fargo & Company MN lifted its position in Workhorse Group by 17.2% in the second quarter. Wells Fargo & Company MN now owns 444,371 shares of the company’s stock valued at $1,306,000 after purchasing an additional 65,076 shares during the period. Bank of Montreal Can acquired a new stake in Workhorse Group in the second quarter valued at about $29,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Workhorse Group in the second quarter valued at about $112,000. Institutional investors and hedge funds own 18.51% of the company’s stock.

Workhorse Group Company Profile

Workhorse Group Inc designs, manufactures, builds, sells, and leases battery-electric vehicles and aircraft in the United States. It operates through two divisions, Automotive and Aviation. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.

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