But, of course, this score can change in a heartbeat, so it’s worth noting. However, its current Altman Z-Score is 5.23, a long way from 1.81 and distressed status. He believes that its future could include a visit to bankruptcy courts by the middle of 2022. My IP colleague, Larry Ramer, recently suggested there’s not much good to say about WKHS stock. To date, I’ve seen no indication anyone suspects the same shenanigans are happening, but Reddit fans ought to keep that possibility in the foreground as they evaluate WKHS’s true value. If it’s anything like the Lordstown Motors (NASDAQ: RIDE) debacle - Workhorse owns 10% and had to report a $137 million loss in Q1 2021 due to RIDE’s crumbling share price - WKHS will be in penny stock territory before you know it. Souther is also the analyst at the top of the range when it comes to target prices.įurther, if you read Navellier’s article more closely, you’ll notice that he’s less than optimistic about the so-called backlog in orders. One of the buys, according to TipRanks, is Christopher Souther, who I mentioned in the previous section. Of the six, two rate it a buy, with four suggesting it’s a hold. If you look at the six analysts covering Workhorse, the median target price is $13, 6.6% below current prices. Between the C-Series vans and Horsefly drone, it’s still got a shot. That’s a future where electric vehicle (EV) delivery trucks fulfill last-mile deliveries for millions of e-commerce orders. While the person who wrote it does make some good points about the rigged nature of the bid process, I can understand why InvestorPlace’s Louis Navellier recently suggested that Reddit investors forget about the USPS contract and focus on the future. ![]() This thread about Workhorse is all over the map and has hundreds of comments. Who knows if it will be successful, but Redditors are using this potential game-changing event as a catalyst for future appreciation.Īccording to SwaggyStocks, WKHS has been one of the most discussed stocks on r/WallStreetBets, with 6.27% of the conversation focused on it on June 29, around the height of its recent growth. Court of Federal Claims to reverse the USPS’s decision. Workhorse has filed a bid protest in the U.S. Tesla (NASDAQ: TSLA ) is 24.7x, Nio (NYSE: NIO ) is 17.5x and XPeng (NYSE: XPEV ) is 13.2x. “I don’t know about you, but I don’t recall many electric vehicle stocks with that low a P/S multiple. Assuming the company builds all 8,000 electric delivery vehicles in its backlog, that’s a price-to-sales ratio of 4.2,” I wrote on April 22. Based on a $20 share price, it would have a market capitalization of $2.5 billion. “As of March 18, Workhorse had 126.9 million shares outstanding. Riley analyst Christopher Souther seemed possible despite the loss of the United States Postal Service (USPS) contract. That said, a $20, 12-month price target set by B. When I wrote about Workhorse in April, I specifically ruled out a $30- or $40-a-share valuation.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |