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

1.16

Mkt cap

30M

Volume

4.7M

High

1.42

P/E Ratio

-0.13

52-wk high

8.78

Low

1.00

Div yield

N/A

52-wk low

0.57

The electric vehicle (EV) sector experienced mixed sentiments despite the broader market's record high. Tesla faced reduced delivery targets and price target cuts due to demand issues, while promoting a free trial of its full-self driving software. Fisker announced significant price reductions for its EVs amid bankruptcy rumors. Nikola teased the return of its battery EV trucks and announced the opening of a hydrogen refueling station. Canoo acquired assets from bankrupt Arrival Automotive. BYD aims for a 20% sales growth in 2024. The KraneShares Electric Vehicles ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

March 30, 2024 | 12:21 pm

This week, Tesla faced challenges in China, Ford planned a reentry into India's EV market, and Canoo aimed to improve profitability. Tesla's production cut in China and SEC probe concerns, along with Ford's strategy to leverage India's new EV policy, and Canoo's designation as a Foreign Trade Zone were key events. Fisker sought financing to avoid bankruptcy, and BYD expanded into Greece. The KraneShares Electric Vehicles ETF saw a decline, reflecting broader EV stock underperformance despite Tesla's slight gain.

Portfolio Pulse from Shanthi Rexaline

March 23, 2024 | 1:12 pm

Workhorse Group received a 180-day extension from Nasdaq to regain compliance, according to an SEC filing on March 21.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 8:30 pm

Workhorse Group Inc. (NASDAQ:WKHS) announced an agreement with an institutional investor for financing transactions up to $139M to support its zero emission commercial vehicles roadmap. The deal includes senior secured convertible notes and warrants, with an immediate $9M note and related warrants issued to provide liquidity for operations and redeem existing debt.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 1:05 pm

Mixed sentiment in the EV sector was influenced by Tesla's lowered delivery estimates and broader market concerns. Tesla faces challenges but sees opportunities in India with new EV policies. Fisker's bankruptcy rumors caused a significant stock drop. Rivian received a positive upgrade from Piper Sandler. Polestar announced a price cut for its upcoming SUV. The KraneShares Electric Vehicles ETF saw a slight increase.

Portfolio Pulse from Shanthi Rexaline

March 16, 2024 | 2:42 pm

Workhorse Group Inc (NASDAQ:WKHS) shares dropped over 6.5% to 25 cents after RF Lafferty analyst Jaime Perez downgraded the stock from Hold to Sell with a 30-cent price target. The decline also followed the company's Q4 FY23 report, showing sales increase to $4.4 million from $3.4 million, driven by higher vehicle sales and DaaS revenue, but with a significant rise in SG&A expenses to $15.1 million due to increased legal and professional fees.

Portfolio Pulse from Henry Khederian

March 14, 2024 | 9:25 pm

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

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