Workhorse Group, Inc. (NASDAQ:WKHS)‘s stock had its “buy” rating reiterated by equities research analysts at Maxim Group in a report released on Thursday. They presently have a $5.00 price target on the stock. Maxim Group’s target price indicates a potential upside of 42.45% from the company’s previous close.

The analysts wrote, “WKHS raised $12 million through the sale of 3.7 million shares at $3.20 plus 75% warrant coverage with an exercise price of $3.80.””

Separately, Cowen and Company began coverage on shares of Workhorse Group in a research report on Thursday, August 17th. They set an “outperform” rating and a $5.25 price objective for the company.

Shares of Workhorse Group (NASDAQ WKHS) traded down 20.51% during mid-day trading on Thursday, hitting $2.79. 1,704,641 shares of the stock were exchanged. Workhorse Group has a 12-month low of $1.85 and a 12-month high of $10.30. The stock’s market capitalization is $104.13 million. The stock’s 50 day moving average price is $3.04 and its 200-day moving average price is $2.98.

Workhorse Group (NASDAQ:WKHS) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.03). The company had revenue of $0.27 million for the quarter. Workhorse Group had a negative return on equity of 290.34% and a negative net margin of 419.92%. On average, equities research analysts expect that Workhorse Group will post ($0.93) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP acquired a new stake in Workhorse Group in the 2nd quarter valued at $122,000. LMR Partners LLP acquired a new stake in Workhorse Group in the 2nd quarter valued at $126,000. Glenview Trust Co grew its position in Workhorse Group by 28.6% in the 2nd quarter. Glenview Trust Co now owns 37,500 shares of the company’s stock valued at $138,000 after purchasing an additional 8,333 shares during the period. Virtu KCG Holdings LLC acquired a new stake in Workhorse Group in the 2nd quarter valued at $166,000. Finally, Goldman Sachs Group Inc. grew its position in Workhorse Group by 74.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 77,209 shares of the company’s stock valued at $285,000 after purchasing an additional 33,040 shares during the period. 11.42% of the stock is owned by institutional investors and hedge funds.

Workhorse Group Company Profile

Workhorse Group, Inc, formerly AMP Holding Inc, is a development-stage company. The Company designs, develops, manufactures and sells medium-duty trucks with powertrain components under the Workhorse chassis brand. The Company’s products include trucks comprising powertrain and chassis. Its powertrain products include E-GEN and E-100.

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