Short Interest in Workhorse Group, Inc. (NASDAQ:WKHS) Drops By 30.1%

Workhorse Group, Inc. (NASDAQ:WKHS) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 325,497 shares, a drop of 30.1% from the December 31st total of 465,846 shares. Currently, 15.3% of the shares of the company are short sold. Based on an average trading volume of 159,872 shares, the days-to-cover ratio is presently 2.0 days. Based on an average trading volume of 159,872 shares, the days-to-cover ratio is presently 2.0 days. Currently, 15.3% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Workhorse Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Workhorse Group Stock Up 1.7%

Shares of WKHS opened at $4.90 on Friday. The business’s 50 day moving average is $6.50 and its 200 day moving average is $12.38. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 0.16. Workhorse Group has a 12-month low of $4.60 and a 12-month high of $90.63. The company has a market capitalization of $10.63 million, a PE ratio of -0.06 and a beta of 2.41.

Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings results on Monday, November 10th. The company reported ($16.68) earnings per share for the quarter, topping the consensus estimate of ($17.40) by $0.72. The business had revenue of $2.38 million during the quarter, compared to the consensus estimate of $2.50 million. Workhorse Group had a negative return on equity of 232.69% and a negative net margin of 606.64%. Research analysts expect that Workhorse Group will post -3.8 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Austin Scott Miller sold 5,051 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $6.51, for a total value of $32,882.01. Following the completion of the sale, the director directly owned 130 shares in the company, valued at $846.30. This represents a 97.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jean Botti sold 5,051 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $6.51, for a total value of $32,882.01. Following the completion of the transaction, the director directly owned 143 shares in the company, valued at approximately $930.93. This represents a 97.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 38,655 shares of company stock worth $251,644. Company insiders own 1.91% of the company’s stock.

Institutional Trading of Workhorse Group

An institutional investor recently raised its position in Workhorse Group stock. Geode Capital Management LLC grew its position in shares of Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,684 shares of the company’s stock after purchasing an additional 11,073 shares during the period. Geode Capital Management LLC owned approximately 0.47% of Workhorse Group worth $49,000 at the end of the most recent reporting period. Institutional investors own 15.98% of the company’s stock.

About Workhorse Group

Workhorse Group Inc is a U.S.-based technology company specializing in the design and manufacture of electric vehicles and drone-integrated delivery solutions. Founded in 2007 and headquartered in Loveland, Ohio, Workhorse focuses on last-mile delivery, combining electric powertrain systems, advanced telematics and proprietary composite bodies to address the growing demand for sustainable logistics fleets.

The company’s core product lineup includes the N-GEN™ chassis, a modular electric vehicle platform available in Class 3–5 configurations, and the C-1000™ all-electric delivery van.