Should i invest in workhorse stock?
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.
There are currently 3 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Workhorse Group stock.
On average, Wall Street analysts predict that WORKHORSE GROUP's share price could reach $10.00 by Mar 2, 2023. The average WORKHORSE GROUP stock price prediction forecasts a potential upside of 293.7% from the current WKHS share price of $2.54.
Meanwhile, in the long term, a WKHS stock forecast from this same provider was pointing to a price of $16.6 for March 2027. According to data compiled by Seeking Alpha, the consensus rating for Workhorse Group was buy three rated it a strong buy, another a buy, and four holds.
Sept. 14, 2021, at 8:32 p.m. WASHINGTON (Reuters) -Electric vehicle company Workhorse Group voluntarily dismissed on Tuesday its legal challenge against a U.S. Postal Service (USPS) move to award a multibillion-dollar contract to Oshkosh Defense for delivery vehicles.
Although Workhorse Group and its stock don't seem promising at the moment, they may still be worth the high-risk long-term investment as its stock value is at a fifteen-month low.
| High | $11.00 |
|---|---|
| Median | $6.00 |
| Low | $5.00 |
| Average | $6.67 |
| Current Price | $2.65 |
NIO has received a consensus rating of Buy. The company's average rating score is 2.93, and is based on 13 buy ratings, 1 hold rating, and no sell ratings.
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Top 10 Owners of Workhorse Group Inc.
| Stockholder | Invesco Capital Management LLC |
|---|---|
| Shares owned | 4,120,776 |
| Total value ($) | 20,603,880 |
| Shares bought / sold | +513,460 |
| Total change | +14.23% |
Workhorse has not announced a new model after suspending production of its C1000 electric vans. The company's new management is working to put the company on a sustainable growth path. Several leading automakers are bringing electric commercial delivery vans to the market.
What happened to workhorse with the postal contract?
WASHINGTON, Sept 14 (Reuters) - Electric vehicle company Workhorse Group (WKHS. O) voluntarily dismissed on Tuesday its legal challenge against a U.S. Postal Service (USPS) move to award a multibillion-dollar contract to Oshkosh Defense (OSK. N) for delivery vehicles.
Oshkosh Defense president John Bryant shared in a statement to Green Car Reports: "One of those suppliers is Ford Component Sales (a wholly owned subsidiary of Ford Motor Company), providing components across both ICE and BEV models including powertrain, drive train, suspension, and cabin interior components.
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