Workhorse Group’s (WKHS) Buy Rating Reiterated at Maxim Group

Maxim Group reaffirmed their buy rating on shares of Workhorse Group, Inc. (NASDAQ:WKHS) in a research note published on Thursday. Maxim Group currently has a $5.00 target price on the stock.

“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.”,” Maxim Group’s analyst commented.

Separately, Cowen and Company initiated coverage on Workhorse Group in a report on Thursday, August 17th. They set an outperform rating and a $5.25 target price for the company.

Shares of Workhorse Group (NASDAQ WKHS) opened at 2.81 on Thursday. The stock’s market cap is $104.88 million. Workhorse Group has a 52-week low of $1.85 and a 52-week high of $10.30. The company’s 50-day moving average price is $3.05 and its 200-day moving average price is $2.98.

Workhorse Group (NASDAQ:WKHS) last announced its earnings results on Wednesday, August 9th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.03). Workhorse Group had a negative net margin of 419.92% and a negative return on equity of 290.34%. The company had revenue of $0.27 million for the quarter. Analysts expect that Workhorse Group will post ($0.94) earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Workhorse Group’s (WKHS) Buy Rating Reiterated at Maxim Group” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://ledgergazette.com/2017/09/17/workhorse-groups-wkhs-buy-rating-reiterated-at-maxim-group.html.

Several hedge funds and other institutional investors have recently made changes to their positions in WKHS. Susquehanna International Group LLP purchased a new stake in shares of Workhorse Group during the second quarter valued at $122,000. LMR Partners LLP purchased a new stake in shares of Workhorse Group during the second quarter valued at $126,000. Glenview Trust Co lifted its holdings in shares of Workhorse Group by 28.6% during the second 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 last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Workhorse Group during the second quarter valued at $166,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Workhorse Group by 74.8% during the second 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 last quarter. 11.42% of the stock is owned by institutional investors and hedge funds.

About Workhorse Group

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.

Receive News & Ratings for Workhorse Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workhorse Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply