Thrivent Financial for Lutherans acquired a new position in shares of Workhorse Group Inc (NASDAQ:WKHS) in the 1st quarter, HoldingsChannel reports. The fund acquired 156,469 shares of the company’s stock, valued at approximately $283,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in WKHS. California Public Employees Retirement System acquired a new stake in shares of Workhorse Group during the 4th quarter worth about $116,000. State Street Corp increased its stake in Workhorse Group by 190.0% in the fourth quarter. State Street Corp now owns 173,418 shares of the company’s stock valued at $527,000 after purchasing an additional 113,618 shares during the last quarter. Bank of Montreal Can raised its holdings in Workhorse Group by 19.3% during the fourth quarter. Bank of Montreal Can now owns 33,400 shares of the company’s stock worth $101,000 after purchasing an additional 5,400 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Workhorse Group during the 4th quarter worth approximately $380,000. Finally, Credit Suisse AG acquired a new position in shares of Workhorse Group in the 4th quarter valued at $852,000. Institutional investors and hedge funds own 22.39% of the company’s stock.
WKHS opened at $17.39 on Wednesday. Workhorse Group Inc has a 52 week low of $1.32 and a 52 week high of $15.41. The business has a 50 day moving average price of $4.15 and a two-hundred day moving average price of $3.13. The company has a market cap of $699.23 million, a PE ratio of -24.84 and a beta of 2.16.
A number of equities research analysts recently weighed in on the stock. Roth Capital boosted their price target on shares of Workhorse Group from $4.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Cowen upped their target price on Workhorse Group from $4.50 to $11.50 and gave the company an “outperform” rating in a research report on Friday, June 26th. BTIG Research raised their price target on Workhorse Group from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, June 19th. Zacks Investment Research upgraded Workhorse Group from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research note on Saturday, May 30th. Finally, ValuEngine downgraded Workhorse Group from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $8.20.
About Workhorse Group
Workhorse Group Inc designs, manufactures, builds, sells, and leases battery-electric vehicles and aircraft in the United States. It operates through two divisions, Automotive and Aviation. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.
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