Shares of electric commercial-vehicle maker Workhorse Group (WKHS -9.06%) were up sharply for the fifth-straight session on Wednesday. There was no news, and the rise was counter to the market's broad-based decline on renewed coronavirus concerns.
Full Answer
Why is workhorse stock going down?
Conclusion: Workhorse stock may be going down because Robinhood is limiting investors' ability to bid it up. Now here's the good news for folks who own Workhorse: Robinhood announced yesterday that it has secured $3.4 billion in financing "to invest in record customer growth, including $1 billion in funding announced on January 29."
Where can I buy Workhorse Group stock?
Shares of WKHS can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here. What is Workhorse Group's stock price today?
How did Workhorse Group's earnings compare to analysts'earnings estimates?
The business earned ($0.58) million during the quarter, compared to analysts' expectations of $1.03 million. Workhorse Group had a net margin of 1,095.71% and a negative trailing twelve-month return on equity of 84.79%. During the same period in the previous year, the firm earned ($0.78) EPS. View Workhorse Group's earnings history.
Why is Workhorse Group being investigated?
Electric van-maker Workhorse Group said on Monday it was being investigated by the U.S. Department of Justice and the U.S. Securities and Exchange Commission related to trading in the company's securities leading up to the award of a U.S. Postal Service (USPS) contract.
Why is Workhorse stock soaring?
What happened. Shares of Workhorse Group (WKHS -6.91%) soared by 59.7% last month, according to S&P Global Market Intelligence. The electric delivery van manufacturer greatly outperformed the broader market in March, due in part to news of a new purchase agreement, and also word of some stock-buying by management.
Will Workhorse stock go up?
Based on an algorithm-based Workhorse share price forecast at the time of writing (22 March) from Wallet Investor, it viewed the stock as an "outstanding" short term in investment and forecasted the WKHS stock may increase to $6.88 by this time next year.
Is Workhorse a good stock to buy?
At the moment, the volatility of this stock has painted the picture of Workhorse Group as a very high-risk stock investment due to the pivot sell point which began on March 24, 2022. So far, the daily average volatility level of this stock has been slightly over seven percent.
What is the prediction for Workhorse stock?
Workhorse stock price stood at $3.09 According to the latest long-term forecast, Workhorse price will hit $4 by the end of 2022 and then $5 by the middle of 2023. Workhorse will rise to $10 within the year of 2025 and $20 in 2032.
Did Workhorse get the USPS contract?
EV startup Workhorse has filed an official protest after losing the bid to make the United States Postal Service's next-generation mail vehicle in February, a contract that could ultimately be worth some $6 billion. The USPS instead gave that contract to defense contractor Oshkosh.
Is Workhorse overvalued?
Workhorse Group, Inc. may be overvalued. Its Value Score of F indicates it would be a bad pick for value investors. The financial health and growth prospects of WKHS, demonstrate its potential to underperform the market. It currently has a Growth Score of B.
What is the future of Tilray stock?
The average one-year Tilray share price forecast is $10.31 a potential upside of 28%. The high price target is set at $23, while the low is at $6. According to the algorithm-based forecasting website WalletInvestor on 6 April, the stock could continue to decline and in 12 months' time fall to $5.3.
Is WKHS undervalued?
Workhorse Grp maintains a prevalent Real Value of $3.9 per share. The last-minute price of the company is $2.56. Based on Macroaxis valuation methodology, the company appears to be undervalued....USD 2.56 0.05 1.99%LowEstimated ValueHigh0.132.579.23
What is Nio price target?
NIO Inc (NYSE:NIO) The 29 analysts offering 12-month price forecasts for NIO Inc have a median target of 31.49, with a high estimate of 82.76 and a low estimate of 23.02.
What does the company workhorse do?
Workhorse is a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric vehicles including trucks and aircraft.
What happened
Shares of electric delivery-van maker Workhorse Group ( WKHS -5.12% ) were trading higher on Monday. The company holds a roughly 10% stake in electric-pickup start-up Lordstown Motors, which revealed plans to go public via a reverse merger with DiamondPeak Holdings ( DPHC ) before the markets opened on Monday.
So what
Sometimes it's hard to tell exactly what is pushing a stock's price higher. Not today: The deal to take Lordstown Motors public will dramatically increase the value of Workhorse's stake in Lordstown and (in time) give it a cash flow from royalties. Obviously, that's very good news for the company.
NASDAQ: WKHS
Lordstown and Workhorse are closely related. Lordstown CEO Steve Burns is Workhorse's former CEO, and Lordstown licensed some designs and patents from Workhorse. In return, Workhorse received a 9.99% stake in Lordstown, along with -- significantly -- an agreement that protects that stake from dilution for two years.
Now what
Roth Capital analyst Craig Irwin has followed Workhorse and Lordstown closely. In a new note on Monday, he estimated that the cash value of the merger and a successful launch of Lordstown's Endurance pickup will be worth over $100 million in royalties and fees to Workhorse.
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Who is the CEO of Workhorse?
1 employees have rated Workhorse Group CEO Steve Burns on Glassdoor.com. Steve Burns has an approval rating of 100% among Workhorse Group's employees. This puts Steve Burns in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.
What is the ticker symbol for Workhorse?
Workhorse Group trades on the NASDAQ under the ticker symbol "WKHS."
How much does Workhorse Group make?
Workhorse Group has a market capitalization of $1.71 billion and generates $1.39 million in revenue each year. The company earns $69.78 million in net income (profit) each year or ($0.63) on an earnings per share basis.
What is Workhorse Group?
Workhorse Group, Inc. is a technology company, which engages in the provision of sustainable solutions to the commercial transportation sector. It operates as an original equipment manufacturer, which designs and builds battery-electric vehicles including trucks and aircraft. The firm also creates all-electric delivery trucks and drone systems. The company was founded by Stephen S. Burns on February 20, 2007 and is headquartered in Loveland, OH.
What is the official website of Workhorse?
The official website for Workhorse Group is www.workhorse.com.
What is the P/E ratio of Workhorse?
The P/E ratio of Workhorse Group is 5.47 , which means that it is trading at a less expensive P/E ratio than the Auto/Tires/Trucks sector average P/E ratio of about 15.63.
What is the consensus rating of Workhorse?
Workhorse Group has received a consensus rating of Hold. The company's average rating score is 2.14, and is based on 1 buy rating, 6 hold ratings, and no sell ratings.
Is Workhorse stock going up in 2021?
March 1, 2021. Workhorse (NASDAQ: WKHS) is not giving up. After losing almost half its value last week, WKHS stock is starting to rev up on Monday. It turns out that there are two reasons for the comeback. Source: rblfmr / Shutterstock.com.
Is Workhorse giving up the USPS contract?
Today, Workhorse told analysts that it is not going to give up the fight for the USPS contract. CEO Duane Hughes shared today that the company has a meeting with the U.S. Postal Service on Wednesday. There, executives will request additional information about the bid process.
What company is WKHS?
Electric vehicle (EV) company Workhorse Group (NASDAQ: WKHS) recovered some lost stock value last month as it prepares a lawsuit to win back a $482 million U.S. Postal Service (USPS) contract that slipped through its fingers earlier this year.
Is Workhorse a meme?
Workhorse (WKHS) is caught up in the meme craze and should be avoided. Instead, investing in legacy automakers like GM, F and VWAGY to ride the EV wave is likely to reap handsome long-term gains.
Is Workhorse a DOJ investigation?
disclosed in a filing with the Securities and Exchange Commission that it has been "orally informed" last week by the U.S. Department of Justice that it was the subject of a DOJ investigation, related to an SEC probe. Meanwhile, the stock bounced 4.8%, after falling 15.7% over the previous three sessions, amid a broad rally in electric vehicle-related stocks in the wake of the passage of the infrastructure bill. The SEC had recently asked the electric van maker to "voluntari
How long will Oshkosh Defense build the next generation delivery vehicle?
Then, over the course of 10 years , it will assemble between 50,000 and 165,000 of the vehicle. They will feature either fuel-efficient internal combustion engines or battery electric powertrains.
Does Sarah Smith have any positions in the securities mentioned in this article?
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Is Workhorse a fit for Oshkosh?
As one of the finalists, many investors were confident that Workhorse was a clear fit for the role. However, Oshkosh Defense nabbed the deal instead. According to the press release, the U.S. Postal Service plans to soon release a 1o-year plan to improve its technology and infrastructure.
Is Workhorse the winner of the electric vehicle contract?
Workhorse was not the winner, and the massive drop in WKHS stock reflects that. Here is what you need to know now. Today, the USPS finally announced the winner of its electric vehicle contract. As part of this, the contracted company will help the postal service electrify its fleet, taking it into the new age.
Robinhood trading restrictions may be to blame
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
What happened
Shares of Workhorse Group ( NASDAQ:WKHS), a start-up manufacturer of electric trucks whose stock has surged in hopes it's about to win a large contract from the U.S. Postal Service, is galloping in the wrong direction this morning. As of 11 a.m. EST, the stock is down 12%.
So what
One possibility is WallStreetBets. Coincident with a huge surge in stock price at Workhorse last week was the WSB phenomenon that saw a mass of new investors on trading app Robinhood combine with stock boosters on the Reddit forum to push shares of heavily shorted stocks higher.
Now what
Now here's the good news for folks who own Workhorse: Robinhood announced yesterday that it has secured $3.4 billion in financing "to invest in record customer growth, including $1 billion in funding announced on January 29." The company had previously explained that the trading restrictions it imposed were due to "deposit requirements" imposed by its securities clearinghouse..