Workhorse Group stock is higher because the USPS may be buying more electric vehicles June 1, 2022 | investing.com Can Workhorse Finally Overdeliver (Or Is It Just Too Late For The EV Maker)?
Full Answer
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?
What is workhorse known for?
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. Will Workhorse Stock Recover in 2022?
What happened to workhorse trucks?
In the years 2020 and 2021, the company delivered some of these trucks, but it fell well short of its delivery targets. The troubles didn't stop there. Workhorse lost a potential order from the U.S. Postal Service.
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 keep going up?
Struggling electric vehicle (EV) maker Workhorse Group (WKHS) has seen its stock price rise 42% over the last week and today (22 March) is priced at $4.43. Sentiment has turned towards tech stocks with the Nasdaq Composite rising 8% in that time....Workhorse stock news.Long position overnight fee-0.0225%Spread5.102 more rows•Mar 22, 2022
Is Workhorse a good stock to buy now?
Even though Workhorse stock's price looks attractive, it seems best to avoid this stock right now. Irrespective of where the stock's price may move in 2022, the company's fundamentals and long-term prospects don't look very bright as of now.
Can a Workhorse recover?
Workhorse's agreement with Canada's GreenPower is achievable since the company's working capital at the end of 2021 was $188.6 million from $216.2 million in current assets and $27.6 million. Workhorse is still hemorrhaging money. It is yet to recover from the costly recall of 41 vehicles issued in 2021.
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.
What is the prediction for Workhorse stock?
Workhorse stock price stood at $2.95 According to the latest long-term forecast, Workhorse price will hit $3 by the middle of 2022 and then $5 by the end of 2023. Workhorse will rise to $10 within the year of 2026.
Who is buying WKHS?
Institutional investors purchased a net $1.5 million shares of WKHS during the quarter ended June 2019....Top 10 Owners of Workhorse Group Inc.StockholderSusquehanna Financial Group LLLPShares owned1,923,803Total value ($)5,790,647Shares bought / sold+323,152Total change+20.19%9 more columns
Is Workhorse a good investment 2021?
For Workhorse's long-term investors, early 2021 could be referred to as the "good old days." On February 4, WKHS stock topped out at $42.96. Bear in mind, this stock cost less than $1 at one point, back in 2019.
Is Workhorse overvalued?
Valuation metrics show that 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.
Is Workhorse owned by GM?
History. Workhorse Custom Chassis, LLC was founded in 1998 by investors who took over the production of General Motors' P30/P32 series stepvan and motorhome chassis. By 2005, they were taken over by Navistar International, which had been selling them diesel engines.
Will NIO go up?
Is NIO Expected To Grow? In the short term, NIO is still expected to grow in 2022 albeit at a slower pace as compared to 2021. As per the chart below, the sell-side analysts have been cutting NIO's top line forecasts for 1H 2022, after the company reported Q1 2022 deliveries and Q4 2021 results.
Will HYLN stock go up?
Stock Price Forecast The 3 analysts offering 12-month price forecasts for Hyliion Holdings Corp have a median target of 4.00, with a high estimate of 5.00 and a low estimate of 3.00. The median estimate represents a +13.31% increase from the last price of 3.53.
Should I buy or sell Workhorse Group stock right now?
7 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Workhorse Group in the last twelve months. There are cur...
What is Workhorse Group's stock price forecast for 2022?
7 brokers have issued 1-year price objectives for Workhorse Group's stock. Their forecasts range from $3.00 to $7.50. On average, they predict Work...
How has Workhorse Group's stock performed in 2022?
Workhorse Group's stock was trading at $4.36 on January 1st, 2022. Since then, WKHS stock has decreased by 36.0% and is now trading at $2.79. View...
When is Workhorse Group's next earnings date?
Workhorse Group is scheduled to release its next quarterly earnings announcement on Monday, August 8th 2022. View our earnings forecast for Workho...
How were Workhorse Group's earnings last quarter?
Workhorse Group Inc. (NASDAQ:WKHS) issued its quarterly earnings data on Tuesday, May, 10th. The company reported ($0.15) earnings per share for th...
What guidance has Workhorse Group issued on next quarter's earnings?
Workhorse Group issued an update on its FY 2022 earnings guidance on Tuesday, June, 7th. The company provided EPS guidance of for the period. The c...
Who are Workhorse Group's key executives?
Workhorse Group's management team includes the following people: Mr. Richard F. Dauch , Pres, CEO & Director (Age 61, Pay $2.36M) Mr. Gregory T....
What is Steve Burns' approval rating as Workhorse Group's CEO?
1 employees have rated Workhorse Group CEO Steve Burns on Glassdoor.com . Steve Burns has an approval rating of 100% among Workhorse Group's emplo...
Who are some of Workhorse Group's key competitors?
Some companies that are related to Workhorse Group include Proterra (PTRA) , Lion Electric (LEV) , Faraday Future Intelligent Electric (FFIE) ,...
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.
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
NASDAQ: WKHS
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Why Workhorse stock is falling
Workhorse is surely facing several challenges. Falling behind on its delivery plans, losing a key order from the U.S. Postal Service, a change in management, issues with delivered vehicles resulting in a recall -- the list of Workhorse's troubles is long. What's more, Workhorse isn't new to these challenges.
What may work for Workhorse
Two things can work in Workhorse's favor. First, the company's new CEO, Rick Dauch, has more than 25 years of auto sector experience. He is trying to overhaul the company's operations and is working with all the stakeholders in a systematic manner.
What may not work for Workhorse
On the flip side, Workhorse doesn't expect to have something in the market before 2023. Competition in the segment is already heating up. General Motors ' ( GM -0.83% ) BrightDrop already delivered its first electric delivery vans to FedEx in December.
Is Workhorse stock a buy?
Workhorse's management is trying to drive the company in the right direction. However, intense competition in the electric commercial vehicles segment may restrict Workhorse's growth. There is no announced model in production right now, and we don't know if any future model will be able to meet the required safety and regulatory standards.
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The company is now financially prepared for the rest of the year
I've been a contributor with the Motley Fool since 2019 and it's been a supreme joy to try to help make the world a little smarter, happier, and richer every day. What's great about exploring business and the economy is the insight it gives you into how things are in the world.
What happened
Shares of last-mile delivery company Workhorse Group ( NASDAQ:WKHS) are spiking higher this morning after the company announced a new $70 million financing deal. As of 10:30 a.m. EDT, the stock was up 28% and still climbing.
So what
Workhorse is an early-stage company specializing in electric vehicles for last-mile delivery. Some other young automotive companies are still in an idea phase of development. By contrast, Workhorse has already established a business relationship with delivery services like United Parcel Service and the U.S. Postal Service.
Now what
For now, Workhorse has secured the financing it needs to continue pursuing its goals. But given how young the company is, and how far it is from profitable operations, I bet it will return for additional financing at some point. It still has a long way to go to address the $18 billion last-mile delivery market.
