#5 - Workhorse Group (NASDAQ:WKHS)
Another stock that is coming down from previous highs is Workhorse (NASDAQ:WKHS). What I like and what concerns me about the company is the same. The company serves the commercial market in the all-important last mile delivery. However this is a sector that is becoming very crowded.
The pandemic has accelerated a shift towards e-commerce. And that should mean that Workhorse will be able to maintain a competitive position in the market. The company does count DHL (OTCMKTS:DPSGY), FedEx(NYSE:FDX), W B. Mason, and Ryder (NYSE:R) as customers.
However, the company was doing business with Amazon (NASDAQ:AMZN) and UPS (NYSE:UPS). But that business has moved. And the company is waiting on the United States Postal Service to announce if Workhorse will be one of the companies that will manufacture the agency’s next generation of delivery trucks.
Several analysts, have given WKHS stock a price target far above its current price, which is higher than the consensus 12-month price target.
About Workhorse Group
Workhorse Group Inc, a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers commercial vehicles under the Workhorse brand. The company was formerly known as AMP Holding Inc and changed its name to Workhorse Group Inc in April 2015.
Read More - Current Price
- $1.07
- Consensus Rating
- Reduce
- Ratings Breakdown
- 0 Buy Ratings, 2 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $5.63 (428.2% Upside)
