Workhorse Group (NASDAQ:WKHS) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Workhorse Group, Inc. (NASDAQ:WKHS)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.02 and traded as high as $1.57. Workhorse Group shares last traded at $1.45, with a volume of 995,721 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Workhorse Group from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

Workhorse Group Stock Performance

The company has a market cap of $13.73 million, a price-to-earnings ratio of -0.01 and a beta of 2.53. The firm’s 50-day moving average price is $1.02 and its 200 day moving average price is $3.94.

Workhorse Group (NASDAQ:WKHS) last issued its earnings results on Thursday, May 15th. The company reported ($4.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.00) by ($0.10). The company had revenue of $0.64 million for the quarter, compared to the consensus estimate of $2.00 million. Workhorse Group had a negative return on equity of 194.02% and a negative net margin of 1,576.17%. As a group, equities research analysts predict that Workhorse Group, Inc. will post -3.8 EPS for the current fiscal year.

Institutional Trading of Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC grew its position in Workhorse Group, Inc. (NASDAQ:WKHS) by 17.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 332,561 shares of the company’s stock after purchasing an additional 49,291 shares during the period. Geode Capital Management LLC owned approximately 0.81% of Workhorse Group worth $232,000 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.