WKHS

Workhorse Group Inc (WKHS)

$0.75

+$0.04(+6.25%)Today

$0.71-$0.04(-5.31%)Pre-Market

Workhorse Group Inc. (NASDAQ: WKHS) is a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector.

Financial Overview:

• Revenue: For the fiscal year ending December 31, 2023, Workhorse reported revenue of $13.09 million, reflecting a significant increase of 160.69% compared to the previous year.

  The Wall Street Journal

• Net Loss: The company recorded a net loss of approximately $125.87 million for the same period, indicating ongoing challenges in achieving profitability.

  Stock Analysis

• Cash Position: As of September 30, 2024, Workhorse held cash and short-term investments totaling approximately $3.24 million, suggesting a constrained liquidity position.

  The Wall Street Journal

Analyst Ratings and Price Targets:

• Consensus Rating: Workhorse has received a consensus rating of "Hold" from multiple analysts, indicating a cautious outlook on the company's prospects.

  The Wall Street Journal

• Price Targets: The average twelve-month price target is $5.75, with estimates ranging from $1.25 to $10.00, suggesting potential upside from the current share price.

  Stock Analysis

• Recent Analyst Activity: On November 20, 2024, TD Cowen maintained a "Hold" rating with a $1.25 price target, reflecting a conservative stance on the company's future performance.

  Benzinga

Recent Developments:

• Product Deliveries: Workhorse has commenced deliveries of its W56 electric step van to clients, including NorthStar Courier, a FedEx Ground Contract Service Provider, marking progress in its commercialization efforts.

  Stock Analysis

• Strategic Partnerships: The company has partnered with Progress Manufacturing Company as a certified dealer for specialized second-stage manufacturing, aiming to expand the availability of its electric commercial vehicles to specialized fleets.

  Stock Analysis

Considerations for Investors:

While Workhorse Group has made strides in product development and strategic partnerships, the company's financial challenges, including significant net losses and limited cash reserves, present substantial risks. The "Hold" consensus among analysts suggests a cautious approach, with potential upside contingent on the company's ability to achieve operational milestones and improve financial stability.

Investors should conduct thorough due diligence, considering the inherent risks associated with early-stage technology companies in the electric vehicle sector, before making investment decisions.