Workhorse Group (NASDAQ:WKHS) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Workhorse Group (NASDAQ:WKHS) from a hold rating to a sell rating in a research report released on Thursday morning.

Workhorse Group Trading Up 1.1%

NASDAQ WKHS opened at $0.85 on Thursday. The stock’s 50-day moving average price is $1.34 and its two-hundred day moving average price is $6.48. The company has a market cap of $4.34 million, a PE ratio of -0.11 and a beta of 2.83. Workhorse Group has a 1 year low of $0.81 and a 1 year high of $58.25.

Workhorse Group (NASDAQ:WKHS) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($4.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.00) by ($0.10). The company had revenue of $0.64 million for the quarter, compared to analyst estimates of $2.00 million. Workhorse Group had a negative return on equity of 192.21% and a negative net margin of 1,383.63%. Research analysts forecast that Workhorse Group will post -3.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Swedbank AB raised its holdings in shares of Workhorse Group Inc. (NASDAQ:WKHS) by 46.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,796 shares of the company’s stock after acquiring an additional 30,294 shares during the quarter. Swedbank AB owned approximately 0.23% of Workhorse Group worth $67,000 at the end of the most recent quarter. 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.