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

2.90

Mkt cap

7.7M

Volume

543K

High

2.90

P/E Ratio

-0.02

52-wk high

68.42

Low

2.12

Div yield

N/A

52-wk low

2.12

RF Lafferty analyst Jaime Perez downgrades Workhorse Gr (WKHS) from Hold to Sell and sets a new price target of $0.3.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 4:32 pm

In Tuesday's intraday session, 12 consumer discretionary stocks saw significant movements. Notable gainers included Jiuzi Holdings, ECD Automotive Design, ATRenew, Four Seasons Education, Beachbody Co, and GigaCloud Tech, with increases ranging from 14.33% to 19.8%. On the downside, Jeffs Brands, Faraday Future, Golden Sun Health, Workhorse Group, Alliance Entertainment, and Dogness (Intl) experienced declines between 10.13% and 33.7%. Earnings reports influenced several of these movements.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 5:31 pm

Workhorse Group Inc (NASDAQ:WKHS) shares dropped after reporting Q4 FY23 results with sales of $4.4 million, surpassing consensus but with an EPS loss of $(0.19), missing expectations. The company highlighted increased vehicle sales and contributions from Stables by Workhorse and DaaS, but faced higher SG&A expenses due to legal and professional fees. Despite a challenging liquidity situation, Workhorse is focusing on production, delivery capabilities, and financial discipline for 2024.

Portfolio Pulse from Lekha Gupta

March 12, 2024 | 2:45 pm

In Tuesday's pre-market session, several consumer discretionary stocks showed significant movement. ATRenew, ZHONGCHAO, Beachbody Co, MINISO Group Holding, Target Hospitality, and JOANN were among the gainers, with notable increases in their stock prices following earnings reports and other market activities. Conversely, Workhorse Gr, Kidpik, Dogness (Intl), Jeffs Brands, Global Business Travel, and QuantaSing Group experienced declines, with some attributing their drops to recent earnings reports.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 1:06 pm

Workhorse Group has announced that due to numerous key customer demonstrations planned for Q1 2024, it will not provide specific annual revenue or unit guidance at this time. The company will report on its progress as it occurs.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:03 pm

Workhorse Group is finalizing a workforce reduction of approximately 20%, excluding direct labor, as part of cost-cutting measures to strengthen its financial position. The company is in negotiations for financing to provide a financial runway and is transitioning its Aero business to a DaaS model, which includes stopping drone production and development and terminating related employees. Executive officers have agreed to defer 20% of their cash compensation for at least three months.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:02 pm

Workhorse Group reported Q4 losses of $(0.19) per share, missing the $(0.09) estimate, but sales of $4.41M exceeded the $3.24M estimate. This represents a 20.83% decrease in losses and a 27.81% increase in sales year-over-year.

Portfolio Pulse from Happy Mohamed

March 12, 2024 | 1:01 pm

Numerous companies are scheduled to report their earnings on March 12, 2024, with expectations ranging from significant profits to losses. Key highlights include Aurora Mobile, MINISO Group, and Archer-Daniels Midland among others, projecting varied financial outcomes for their respective quarters.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 9:35 am

Workhorse Gr (NASDAQ:WKHS) is scheduled to release its quarterly earnings report on 2024-03-12, with an estimated EPS of $-0.09. Investors are hopeful for a beat on this estimate and positive guidance for the next quarter. Historically, Workhorse Gr's share price has reacted variably to past earnings performances, with a notable 78.22% decline over the last 52 weeks. The upcoming earnings report is crucial for investors, especially considering the company's recent stock performance.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 5:01 pm

Tesla faced potential Q1 delivery misses and a production halt at its Berlin factory due to suspected arson, impacting its stock. Rivian saw a surge in pre-orders for its new R2 model. Nio is launching a Model Y rival with lower costs. Ford struggles with EV transition, focusing on hybrids. Lucid's price target was halved by RBC. The KraneShares Electric Vehicles ETF fell 3.68% for the week.

Portfolio Pulse from Shanthi Rexaline

March 09, 2024 | 2:16 pm

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