Morgan Stanley decreased its holdings in shares of Workhorse Group Inc (NASDAQ:WKHS) by 12.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,313 shares of the company’s stock after selling 4,641 shares during the quarter. Morgan Stanley’s holdings in Workhorse Group were worth $95,000 at the end of the most recent quarter.
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A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cutter & CO Brokerage Inc. purchased a new stake in Workhorse Group in the 2nd quarter worth approximately $705,000. Wells Fargo & Company MN lifted its position in Workhorse Group by 17.2% in the 2nd quarter. Wells Fargo & Company MN now owns 444,371 shares of the company’s stock worth $1,306,000 after buying an additional 65,076 shares in the last quarter. Bank of Montreal Can purchased a new stake in Workhorse Group in the 2nd quarter worth approximately $29,000. Charles Schwab Investment Management Inc. bought a new position in shares of Workhorse Group during the 2nd quarter valued at $112,000. Finally, Cannell Peter B & Co. Inc. raised its holdings in shares of Workhorse Group by 28.9% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,447,342 shares of the company’s stock valued at $4,255,000 after purchasing an additional 324,903 shares in the last quarter. Hedge funds and other institutional investors own 18.17% of the company’s stock.
Workhorse Group stock opened at $2.74 on Monday. Workhorse Group Inc has a 1-year low of $0.37 and a 1-year high of $5.37. The firm’s fifty day simple moving average is $3.11 and its 200-day simple moving average is $3.01.
Workhorse Group (NASDAQ:WKHS) last posted its earnings results on Friday, November 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07).
A number of research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Workhorse Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. BidaskClub downgraded shares of Workhorse Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 5th.
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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