Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 11.54MM shares of Workhorse Group Inc (WKHS). This represents 7.0% of the company.
In their previous filing dated February 3, 2022 they reported 8.65MM shares and 5.50% of the company, an increase in shares of 33.34% and an increase in total ownership of 1.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 121.74% Upside
As of January 31, 2023, the average one-year price target for Workhorse Group is $4.59. The forecasts range from a low of $2.02 to a high of $8.40. The average price target represents an increase of 121.74% from its latest reported closing price of $2.07.
The projected annual revenue for Workhorse Group is $114MM. The projected annual EPS is $-0.50.
Fund Sentiment
There are 338 funds or institutions reporting positions in Workhorse Group. This is a decrease of 12 owner(s) or 3.43%.
Average portfolio weight of all funds dedicated to US:WKHS is 0.0184%, a decrease of 31.6302%. Total shares owned by institutions increased in the last three months by 2.43% to 56,676K shares.
What are large shareholders doing?
Invesco holds 5,298,015 shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 4,833,300 shares, representing an increase of 8.77%. The firm increased its portfolio allocation in WKHS by 28.53% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,801,523 shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 4,605,908 shares, representing an increase of 4.07%. The firm increased its portfolio allocation in WKHS by 19.95% over the last quarter.
PBW - Invesco WilderHill Clean Energy ETF holds 4,801,136 shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 4,552,978 shares, representing an increase of 5.17%. The firm increased its portfolio allocation in WKHS by 11.02% over the last quarter.
IWM - iShares Russell 2000 ETF holds 3,388,592 shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 3,397,506 shares, representing a decrease of 0.26%. The firm increased its portfolio allocation in WKHS by 19.24% over the last quarter.
KOMP - SPDR S&P Kensho New Economies Composite ETF holds 3,219,314 shares representing 1.96% ownership of the company. In it's prior filing, the firm reported owning 3,084,880 shares, representing an increase of 4.18%. The firm increased its portfolio allocation in WKHS by 16.54% over the last quarter.
Workhorse Group Background Information
(This description is provided by the company.)
Workhorse is a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, it designs and builds high performance, battery-electric vehicles including trucks and aircraft. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with its vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
