“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.
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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.
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