Stifel Financial Corp Decreases Stock Holdings in Workhorse Group Inc. (NASDAQ:WKHS)

Stifel Financial Corp trimmed its position in shares of Workhorse Group Inc. (NASDAQ:WKHS) by 51.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,666 shares of the company’s stock after selling 61,211 shares during the quarter. Stifel Financial Corp’s holdings in Workhorse Group were worth $780,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. RMR Wealth Builders purchased a new stake in shares of Workhorse Group during the first quarter valued at about $39,000. Global Wealth Management Investment Advisory Inc. lifted its position in shares of Workhorse Group by 37.3% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 2,855 shares of the company’s stock valued at $56,000 after buying an additional 775 shares during the last quarter. NEXT Financial Group Inc lifted its position in shares of Workhorse Group by 903.5% during the first quarter. NEXT Financial Group Inc now owns 3,432 shares of the company’s stock valued at $47,000 after buying an additional 3,090 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Workhorse Group by 104.9% during the fourth quarter. Captrust Financial Advisors now owns 3,852 shares of the company’s stock valued at $76,000 after buying an additional 1,972 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Workhorse Group by 1,890.9% during the first quarter. Creative Financial Designs Inc. ADV now owns 4,380 shares of the company’s stock valued at $60,000 after buying an additional 4,160 shares during the last quarter. 45.48% of the stock is owned by institutional investors and hedge funds.

WKHS has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Workhorse Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 12th. Roth Capital decreased their price objective on shares of Workhorse Group from $15.00 to $8.50 and set a “neutral” rating for the company in a research report on Monday, May 10th. TheStreet lowered shares of Workhorse Group from a “c-” rating to a “d” rating in a research report on Wednesday, June 2nd. B. Riley initiated coverage on shares of Workhorse Group in a research report on Friday, April 16th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Cowen lowered shares of Workhorse Group from an “outperform” rating to a “market perform” rating and set a $13.00 price objective for the company. in a research report on Friday, June 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Workhorse Group has a consensus rating of “Hold” and an average price target of $20.50.

In other news, Director Raymond Joseph Chess sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $8.00, for a total transaction of $40,000.00. Following the sale, the director now owns 117,008 shares of the company’s stock, valued at approximately $936,064. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Shares of NASDAQ:WKHS opened at $11.65 on Thursday. Workhorse Group Inc. has a twelve month low of $7.07 and a twelve month high of $42.96. The stock has a 50 day simple moving average of $12.58. The company has a current ratio of 26.63, a quick ratio of 24.88 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.44 billion, a P/E ratio of -32.36 and a beta of 2.71.

Workhorse Group (NASDAQ:WKHS) last issued its quarterly earnings results on Monday, May 10th. The company reported ($1.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.85). Workhorse Group had a negative return on equity of 127.42% and a negative net margin of 3,032.13%. The business had revenue of $0.52 million during the quarter, compared to analyst estimates of $2.38 million. On average, research analysts anticipate that Workhorse Group Inc. will post -1.57 EPS for the current year.

Workhorse Group Profile

Workhorse Group Inc, a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.

Featured Article: Why investors pay attention to retained earnings

Institutional Ownership by Quarter for Workhorse Group (NASDAQ:WKHS)

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