Streetbeat News

WKHS

Workhorse Group Inc.

https://www.workhorse.com

Industry

Auto - Manufacturers

Workhorse Group Inc., a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers electric and range-extended medium-duty delivery trucks under the Workhorse brand; and HorseFly Unmanned Aerial System, a custom-designed purpose-built all-electric drone system. It also provides Metron, an air delivery application that tracks the performance of various the vehicles deployed. The company was formerly known as AMP Holding Inc. and changed its name to Workhorse Group Inc. in April 2015. Workhorse Group Inc. was founded in 2007 and is headquartered in Loveland, Ohio.

Open

0.85

Mkt cap

19M

Volume

1.8M

High

0.85

P/E Ratio

-0.08

52-wk high

8.78

Low

0.77

Div yield

N/A

52-wk low

0.57

Workhorse Group has been granted three U.S. patents related to its electric delivery vehicles. The patents cover adaptations for electric delivery vehicles, the incorporation of monocoques and modular mold systems, and brake systems for land vehicles. Additionally, a patent for unmanned aerial vehicle delivery systems was also granted.

Portfolio Pulse from Charles Gross

January 30, 2024 | 1:38 pm

Workhorse Group (NYSE:WKHS) has seen a significant decrease in short interest, with a 25.44% drop since the last report. The current short interest stands at 43.76 million shares, or 17.2% of the float. It would take about 3.79 days for traders to cover their short positions. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in the stock price. Workhorse has a higher short interest compared to its peers, with the peer group average at 12.16% of the float.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 7:00 pm

Electric vehicle stocks, including Tesla, Rivian, and Fisker, faced challenges this week with Tesla's price cuts and Elon Musk's demand for more control, Rivian's downgrade by Deutsche Bank, and Fisker's probe into braking issues. Tesla's price adjustments and Musk's comments may affect investor sentiment ahead of earnings, while Rivian's downgrade reflects concerns over future losses and production issues. Fisker is cooperating with a federal probe into braking issues but asserts its systems meet requirements. The KraneShares Electric Vehicles ETF also saw a decline.

Portfolio Pulse from Shanthi Rexaline

January 20, 2024 | 2:04 pm

In Wednesday's after-market session, several consumer discretionary stocks experienced movement. Educational Development (EDUC) saw an 8.3% increase after its Q3 earnings report 4 days ago. Rent the Runway (RENT) rose by 5.23%, while Kaixin Auto Hldgs (KXIN), Latham Group (SWIM), and Fitell (FTEL) also saw gains. Conversely, E-Home Household Service (EJH), Rush Street Interactive (RSI), SRIVARU Holding (SVMH), Winnebago Industries (WGO), Workhorse Gr (WKHS), and Volcon (VLCN) experienced declines in their stock prices.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 9:31 pm

Electric vehicle stocks, including Tesla, Lucid Group, and XPeng, faced declines amid investor concerns over Tesla's price cuts in China and a bearish EV market. Tesla's refreshed Model 3 launched in North America, but price reductions in China may lead to lower earnings estimates. Hertz plans to sell a portion of its EV fleet to reinvest in ICE vehicles, reversing its previous EV-focused strategy. Lucid reported lower Q4 production and deliveries year-over-year. XPeng showcased a flying car at CES 2024 and plans to open pre-orders in Q4. Canoo acquired manufacturing assets at a discount but saw its stock fall. Honda unveiled '0' series concept EVs at CES with a potential North American launch in 2026. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) also dropped.

Portfolio Pulse from Shanthi Rexaline

January 13, 2024 | 2:03 pm

Electric vehicle stocks fell in the week ending Jan. 5, with Tesla's Q4 deliveries exceeding expectations but not enough to lift the sector. Tesla lost its global EV leader status to BYD, faced a recall in China, and will provide 2024 guidance on Jan. 24. Rivian's Q4 deliveries slightly missed estimates, while Fisker adopted a dealer distribution model. Ford adjusted F-150 Lightning prices, and GM plans to compensate buyers for lost EV tax credits. The KraneShares Electric Vehicles ETF fell by 5.53% for the week.

Portfolio Pulse from Shanthi Rexaline

January 06, 2024 | 2:59 pm

Workhorse Group Inc. (NASDAQ:WKHS) announced that its W56 electric vehicle has been approved for the California Air Resources Board's HVIP incentive program, which offers a base voucher of $85,000 per vehicle to reduce cost barriers for EV ownership in California. The W56 is a Class 5/6 model chassis platform, with production starting in September 2023. Workhorse has received its first fleet purchase order for W56 step vans in California and is aiming to expand market share in the EV step van segment.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 1:46 pm

In 2023, the EV industry faced production and demand challenges, with Tesla, Inc. (TSLA) doubling its stock value after aggressive price cuts. Rivian Automotive, Inc. (RIVN) also ended the year positively, maintaining production forecasts and managing costs. Global EV adoption slowed due to affordability and infrastructure issues. Tesla's North American Charging Standard gained significant adoption from other automakers. Legacy automakers scaled back EV plans due to strikes and demand slowdown. Analyst Gary Black views Tesla as the only investable EV company, with BYD and Rivian as potential winners. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) fell 7.85% for the year.

Portfolio Pulse from Shanthi Rexaline

December 30, 2023 | 3:28 pm

Workhorse Group Inc. (WKHS) has received its first fleet order for the W56 step van from Mission Linen Supply. The order consists of 15 vehicles expected to be delivered in 2024. The W56 is a zero emission delivery work van designed for high reliability and serviceability, with a payload capacity of up to 10,000 pounds and a range of up to 150 miles. Workhorse CEO Rick Dauch highlighted the milestone in commercializing their Class 5/6 vehicle, and Mission Linen Supply praised the van's performance in field tests.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:32 pm

Workhorse Group entered into a Securities Purchase Agreement with High Trail Special Situations on December 12, as disclosed in an SEC 8K filing.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:26 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.