BTIG Sticks to Its Buy Rating for Workhorse Group (WKHS)

BTIG analyst Gregory Lewis reiterated a Buy rating on Workhorse Group (WKHSResearch Report) on November 8 and set a price target of $8.00. The company’s shares closed yesterday at $2.67.

Lewis covers the Industrial Goods sector, focusing on stocks such as Scorpio Tankers, Chart Industries, and Eagle Bulk Shipping. According to TipRanks, Lewis has an average return of -3.1% and a 42.77% success rate on recommended stocks.

Workhorse Group has an analyst consensus of Strong Buy, with a price target consensus of $6.00, a 124.72% upside from current levels. In a report released yesterday, R.F. Lafferty also maintained a Buy rating on the stock with a $5.00 price target.

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Based on Workhorse Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $12.56 thousand and a GAAP net loss of $21.16 million. In comparison, last year the company earned a revenue of $1.2 million and had a GAAP net loss of $43.62 million

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Workhorse Group, Inc. engages in designing and build performance battery-electric vehicles and aircraft. It develops cloud-based, real-time telematics performance monitoring systems. The firm operates in two divisions, Automotive and Aviation. The Automotive division operates as a original equipment manufacturer of class 3-6 commercial-grade, medium-duty truck chassis, marketed under the Workhorse brand. The Aviation division offers delivery drones and SureFly multicopter. The company was founded by Stephen S. Burns on February 20, 2007 and is headquartered in Loveland, OH.

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