Workhorse Group’s stock narrative has shifted following a notable drop in the consensus analyst price target, which recently fell from $1.50 to $0.65 per share after a series of downgrades. This adjustment reflects growing skepticism about the company’s near-term prospects, particularly in light of delayed merger developments and ongoing operational uncertainty. Stay tuned to learn how you can track upcoming changes in the story and stay informed on key analyst updates as the situation evolves.
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🐂 Bullish Takeaways
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While recent coverage maintains a cautious stance, analysts note progress for Workhorse Group tied to the proposed Motiv Electric Trucks merger. This suggests a potential for improved delivery ramp and revenue diversification in the future.
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In August, Roth Capital acknowledged Workhorse’s delivery of 32 units and highlighted that the merger could provide a broader path for scaling up production and increasing deliveries.
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Analysts have indicated that they could adopt a more constructive view on the stock if the company delivers a credible path to positive gross margins. They emphasize the importance of execution and financial transparency as key criteria for future upgrades.
🐻 Bearish Takeaways
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Sentiment among Wall Street analysts has become more cautious, with Roth Capital lowering its price target from $1.75 to $1.50 in August and again to $0.65 in November while maintaining a Neutral rating throughout.
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The most recent price target cut to $0.65 reflects concerns about the company’s near-term prospects, citing non-consequential quarterly results, operational uncertainty, and a delayed shareholder vote on the Motiv merger due to insufficient support.
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Roth Capital expressed skepticism regarding Workhorse’s current position, indicating that greater confidence would depend on the successful completion of the Motiv merger and securing related financing.
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Workhorse Group has announced the availability of the Utilimaster Aeromaster body for its all-electric W56 Class 5/6 step van. This expands its product line with a modular, zero-emission platform designed for commercial applications.
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The new Aeromaster configuration is built with durable aluminum, features wide steps and a low step height for increased safety, and offers up to 150 miles of range on a single charge. This model specifically targets last-mile delivery fleets.
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Company leadership emphasized that the launch of the Aeromaster-equipped W56 supports Workhorse Group’s strategy to broaden its presence in the electric commercial vehicle market and cater to the evolving needs of logistics providers.
