Workhorse Group Inc. (NASDAQ:WKHS) Sees Significant Decline in Short Interest

Workhorse Group Inc. (NASDAQ:WKHS) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 914,100 shares, a decline of 89.9% from the February 28th total of 9,020,000 shares. Based on an average trading volume of 298,700 shares, the days-to-cover ratio is currently 3.1 days. Currently, 28.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Workhorse Group

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Workhorse Group by 17.4% during the fourth quarter. Geode Capital Management LLC now owns 332,561 shares of the company’s stock worth $232,000 after purchasing an additional 49,291 shares during the last quarter. Swedbank AB boosted its position in Workhorse Group by 46.2% during the 4th quarter. Swedbank AB now owns 95,796 shares of the company’s stock worth $67,000 after buying an additional 30,294 shares during the period. Virtu Financial LLC bought a new stake in Workhorse Group during the 3rd quarter worth approximately $51,000. Finally, Jane Street Group LLC increased its position in Workhorse Group by 91.6% in the 3rd quarter. Jane Street Group LLC now owns 40,742 shares of the company’s stock valued at $35,000 after acquiring an additional 19,473 shares during the period. 15.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Workhorse Group in a research note on Tuesday, March 18th. They issued a “sell” rating on the stock.

Workhorse Group Stock Performance

Shares of NASDAQ:WKHS opened at $2.05 on Friday. Workhorse Group has a 52-week low of $1.91 and a 52-week high of $68.07. The company has a market capitalization of $6.72 million, a PE ratio of -0.26 and a beta of 2.79. The company has a fifty day moving average of $5.38 and a 200-day moving average of $8.94.

Workhorse Group Company Profile

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.