KKR To Buy $1B Stake In Telefónica Chile’s Fiber NetworkĬarnival Plans To Raise $1B Via Share Sale Stock Falls 4% Shares have skyrocketed by about 348.6% over the past year.įurthermore, TipRanks data shows that financial blogger opinions are 72% Bullish, compared to a sector average of 69%.
The average analyst price target of $26.20 implies upside potential of about 59% from current levels. Overall, the rest of the Street has a cautiously optimistic outlook on the stock, with a Moderate Buy consensus rating based on 3 Buys and 2 Holds.
Nevertheless, in January, Workhorse won its largest delivery truck order for 6,320 C-Series all-electric delivery vehicles of both C-1000 and C-650 models from the Pride Group Enterprises. 22, Lewis maintained a Buy rating and a price target of $30 (82% upside potential) on the stock. BTIG analyst Gregory Lewis had said previously that “we are less concerned about when it is announced and more concerned about how much of the contract WKHS wins.” Lewis added, “We continue to view the USPS contract as a significant potential catalyst for the stock.” On Jan. Notably, speculators and analysts expected Workhorse to win the USPS contract. ( See Workhorse stock analysis on TipRanks) According to Bloomberg’s report, the contract could be worth over $5.7 billion in revenues over a 10-year period. The initial investment would be $482 million. Per the contract, “Oshkosh Defense will finalize the production design of the Next Generation Delivery Vehicle (NGDV) - a purpose-built, right-hand-drive vehicle for mail and package delivery - and will assemble 50,000 to 165,000 of them over 10 years.” USPS awarded a 10-year contract to Oshkosh’s unit, Oshkosh Defense, to replace the Postal Service’s aging delivery vehicle fleet. Meanwhile, the USPS contract news pushed up the shares of Oshkosh ( OSK) by 7.3% in Tuesday’s extended trading session after closing over 6% higher. Postal Service (USPS) contract to rival, Oshkosh Corp. The immense selling in WKHS stock came after the electric delivery van maker lost a multi-billion dollar U.S. The study reflects results from over 1,000 adults.Shares of Workhorse Group ( WKHS) plunged 8.3% in extended trading after a steep drop of about 47.5% on Tuesday. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. N) Production of a new generation of postal delivery vehicles. Postal Services decision in February to sign a multibillion-dollar, 10-year contract with Oshkosh Defense (OSK. O) filed a lawsuit Wednesday against the U.S. This survey was conducted by Benzinga in February 2021 and included the responses of a diverse population of adults 18 or older. WASHINGTON, June 16 (Reuters) Electric vehicle company Workhorse Group (WKHS. Whether or not Workhorse does get the USPS contract, respondents see this recent order as a signal of heightening interest for electric vehicles in the form of trucks, which they believe bodes well for Workhorse as a startup and for its peers. The order is split between Workhorse's C-1000 and C-650 models and is subject to various production and delivery conditions. 4 purchase order Workhorse received for 6,320 of its C-Series all-electric delivery vehicles from Pride Group Enterprises. Readers who are current Workhorse traders also shared their excitement on the previously reported Jan. Many respondents pointed out that if the Biden administration is to fulfill its commitment to American-made clean energy, and as the public sentiment shifts to clean energy solutions, then the EV startup checks all the boxes and the case can be made for government decision-makers to go with Workhorse. Respondents to our study noted Workhorse is the only all-American, all-electric, zero emission company in the bidding for the contract. Overall, 72% of respondents to our study believe Workhorse deserves the contract and is the right company for USPS. Survey Says: So do Benzinga readers believe Workhorse will be the company to win the government contract? “The federal government also owns an enormous fleet of vehicles, which we're going to replace with clean electric vehicles made right here in America, by American workers," President Joe Biden said during a Jan. Here’s the reward for the Loveland, Ohio-based EV maker: if Workhorse is indeed in a strong position to win the USPS contract for upgrading its delivery fleet of 165,000 vehicles, it would be a preeminent source of revenue for the EV company valued at $6.3 billion.Īny question as to whether USPS would go with a non-EV maker for their fleet overhaul has been all but wiped out. This decision has been delayed multiple times already and now puts another layer of pressure on Workhorse, one of three finalists for the contract. Postal Service expects to make a contract decision about Workhorse replacement vehicles in the second fiscal quarter of 2021. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency.Īs far as a timeline’s concerned, the U.S. For investors unfamiliar, Workhorse designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States.
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