![]() ![]() Postal Service contract being awarded, Workhorse is negotiating with General Motors (NYSE: GM) to takeover the Lordstown assembly plant a 6.2 million square foot manufacturing plant in Lordstown, Ohio that Workhorse already owns a 10% stake in. While the Postal Service contract has been delayed several times, it is now being reported that the contract will be awarded in the first quarter of 2021. Winning that contract would represent a windfall for Workhorse and its shareholders. #Workhorse stock forecast 2021 upgradePostal Service contract to purchase 180,000 new trucks to upgrade its national delivery fleet. Much interest in Workhorse Group relates to the potential for a $6 billion government contract to replace postal service vehicles. “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,” Biden said. Recently, when President Biden signed a “Buy America” executive order, he made a comment that could have major implications for Workhorse Group. This tells us that the annual trading range is $39.13. Over the last 52 weeks it has traded as high as $40.45 and as low as $1.32. Let’s start our analysis with the commonsense metrics. ![]() The company has a market cap of $4.4 billion and it trades on average 16.8 million shares a day. The median estimate represents a -25.48% decrease from the last price of 34.22. The 6 analysts offering 12-month price forecasts for Workhorse Group Inc have a median target of 25.50, with a high estimate of 29.00 and a low estimate of 19.00. During the market crash in March of this year, the company’s share price was just $1.32. Year-to-date, Workhorse stock is up nearly 1,500%. It’s a niche strategy that has lots of growth potential. Workhorse is focused on manufacturing electric powered delivery and utility vehicles. In March 2015, a company called AMP Electric Vehicles took over Workhorse Custom Chassis, changing the company name to Workhorse Group Incorporated, and began offering a range of electric vehicles. Navistar then closed the plant in 2012 to cut costs after having suffered heavy losses. By 2005, they were taken over by Navistar International which had been selling them diesel engines. #Workhorse stock forecast 2021 seriesThe company was founded in 1998 by investors who took over the production of General Motors’ P30/P32 series step-van and motorhome chassis. Workhorse Group Incorporated is an American manufacturing company based in Cincinnati, Ohio, currently focused on manufacturing electrically powered delivery and utility vehicles. This week’s stock analysis is Workhorse Group Inc. ![]()
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