Workhorse Group (NASDAQ:WKHS) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Workhorse Group (NASDAQ:WKHS) released its quarterly earnings results on Monday. The company reported ($1.39) EPS for the quarter, beating the consensus estimate of ($1.45) by $0.06, Zacks reports. The company had revenue of $2.38 million for the quarter, compared to analyst estimates of $2.50 million. Workhorse Group had a negative net margin of 760.65% and a negative return on equity of 210.72%.

Workhorse Group Stock Down 9.3%

Shares of Workhorse Group stock traded down $0.07 during trading hours on Tuesday, reaching $0.71. 2,034,087 shares of the company’s stock were exchanged, compared to its average volume of 1,489,966. The business has a fifty day moving average of $1.09 and a two-hundred day moving average of $1.30. The company has a market capitalization of $13.54 million, a P/E ratio of -0.04 and a beta of 2.72. Workhorse Group has a 1 year low of $0.69 and a 1 year high of $24.25.

Analysts Set New Price Targets

A number of research firms have recently commented on WKHS. Wall Street Zen upgraded Workhorse Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Workhorse Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $15.63.

Institutional Trading of Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC grew its holdings in Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,684 shares of the company’s stock after purchasing an additional 11,073 shares during the quarter. Geode Capital Management LLC owned about 0.47% of Workhorse Group worth $49,000 as of its most recent SEC filing. Institutional investors own 15.98% of the company’s stock.

About Workhorse Group

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.