When the trading was stopped its value was $2.74.Recently in News on May 10, 2022, Amerit and Workhorse Announce Purchase Order for 10 All Electric EVolution Mobile Service Centers. Company’s stock value dipped to $2.725 during the trading on the day. When the transactions were called off in the previous session, Stock hit the highs of $2.93, after setting-off with the price of $2.90. “Bottlenecks within the global supply chain and offshore shipping delays of commodity raw materials and components, as well as our initial stages of production, limited our capacity to produce during the first quarter.For the readers interested in the stock health of Workhorse Group Inc. The takeaway is the company delivered 6 C-series trucks in Q1 and had delivered 38 in the YTD period more than doubling its previous production combined and the ramp in production is only expected to accelerate. The global chip shortage, supply chain, and freight issues that are plaguing the market today put a crimp on production capability but are being worked out. The company’s $0.52 million in revenue is an improvement but fell short of consensus by $1.81 and not just because the company is taking “the additional time” to improve production processes. The Workhorse Group is an example of something we’ve seen throughout the market this earnings cycle and a phenomenon that may keep some sectors from advancing much further: good (growth) companies with great results are not meeting the high expectation of analysts and have seen their share prices suffer for it.Īt face value, Workhorse Group’s 550% YOY increase in revenue is great news but a far cry less than what the analysts were expecting. Although we had planned to have achieved our year-to-date number of trucks produced sooner, we took the additional time to ensure that we were building top-quality vehicles for our customers while improving our production processes,” said Workhorse CEO Duane Hughes. “We have had a step function improvement in production in the last month. The company may not have hit the market’s targets this quarter but it’s only a matter of time until Workhorse Group starts hitting its stride. Workhorse Group started delivering its first vehicles last year and it’s now on the cusp of a major ramp in production. Yes, the fundamental story is still there but no, this company isn’t really making money yet but it will be, it will be. Not because the underlying story in this company is faulty but because the price for the stock was so wildly overinflated. The company rocketed to the top of the EV market last year when it went public, it soared to new highs when it became a contender for the USPS lucrative deal, and then it all came crashing down. The Workhorse Group ( NASDAQ: WKHS) has had a wild year.

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