wkhs usps contract

Their differences lie in internal volume, length and wheelbase only. All rights reserved. Still, the prospect of getting burned is always omnipresent when you see this kind of share activity. © 2020 NewAge ADS, LLC. I always like to dig deep into the fundamentals. Even if the company manages to clinch the contract, there are still question marks regarding how well it can execute the task. Although that’s expected to be a 574.34% uptick, the absolute numbers are certainly not impressive for a company with a valuation of approximately $2.45 billion. The company will also exchange $70 million worth of existing debt with roughly five million shares, and allow the purchasers of its $200 million notes to convert them into Workhorse common stock at $36.14/share. Workhorse occupies a niche space in the EV industry, has a patent portfolio, and a customer list that includes DHL (OTCMKTS:DPSTF), FedEx (NYSE:FDX), and UPS (NYSE:UPS).

Despite several catalysts, the biggest driver of WKHS stock’s recent surge is the potential USPS contract. © 2020 Insider Inc. and finanzen.net GmbH (Imprint). aus oder wählen Sie 'Einstellungen verwalten', um weitere Informationen zu erhalten und eine Auswahl zu treffen. Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. In a research note, Roth Capital analyst Craig Irwin said that Workhorse is a favorite to win the contract.

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Why Is FedEx (FDX) Up 10.4% Since Last Earnings Report? While now Workhorse is focusing its attention on the delivery sector, it previously also had planned to introduce electric pickup trucks, which have associated themselves with the company for years.

Sometime this month, if the company lands the USPS contract, shares will skyrocket to new heights.

But you get my point. I believe that could factor into the final decision, but it’s certainly not the be-all-end-all reason why Workhorse will get the contract.

The deal, which according to the bank will be awarded this week will prove beneficial for the company and allow it to push out its products the market. That makes me wary of the electrically powered delivery and utility vehicle manufacturer at this stage. These new vehicles within our portfolio of products, along with the expanding operations of our drone business, will help to further solidify our leadership and reach in the last-mile EV delivery segment.". Postal Service Contract. If there is a hitch, shares will tank.

This was the result of an astounding 119% growth over 2019, where at the end of June, these pre-finished products were worth $427 million. The company also intends to focus on manufacturing these delivery vans from the proceeds of today's funds. Workhorse Group (NASDAQ:WKHS) swings lower after Roth Capital says the USPS is pushing the highly-anticipated NGDV decision to the end of … So, unless you are in for the long haul, this is an excellent opportunity to part with a portion of your stake. Though the latter comes with a juicy option to convert the notes into stock at $36.14 per share, a premium of 35% over the Oct. 9 closing price. Although the company has evolved and taken on several forms, it has been in business since 1998. That will only contribute to Workhorse’s negative margins.

Should the USPS contract go to WKHS Group, which owns a 10% stake in Lordstown Motors, Donald Trump could get the boost in this county. The company's cost of sales has outstripped its total revenue regularly and as a result, Workhorse requires external financing to stay afloat.

That makes the stock a spec play at this stage, banking more on external factors than fundamentals. … Dazu gehört der Widerspruch gegen die Verarbeitung Ihrer Daten durch Partner für deren berechtigte Interessen. Workhorse (NASDAQ: WKHS) Manages To Secure $200 Million In Financing As The Fate Of The Crucial USPS Contract Hangs In The Balance. I would advise keeping some funds invested in WKHS stock while taking some of your hard-earned profits and investing them in other, more stable stocks. All rights reserved.

If it ends up with such a huge contract, it will have to undergo some massive growing pains that will include ramping up production capacity.

His passion is to help the average investor make more informed decisions regarding their portfolio. Disclaimer |

filings, the company did expand its 'output' year-over-year during the first six months of 2020 - despite pandemic-induced disruption all over the United State.

So, plenty of financing here will help in operations. However, that doesn’t justify WKHS stock rising almost 1,300% over the last six months. As it waits for the final outcome, Workhorse announced today that it will sell more debt worth $200 million to two institutional lenders.

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Plus, EVs are also red hot this year. The bull case may have to do with Workhorse’s headquarters, Ohio, a swing state. Analyst estimates point to less than $150 million of sales in 2021. Roth Capital Partners believes the company is the “best fit” out of the competitors left in the race. Postal Service contract and its high valuation. Workhorse will use the $200 million in funds for a variety of purposes, including production.

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. Sie können Ihre Einstellungen jederzeit ändern. Workhorse (NASDAQ: WKHS) Unlikely To Repeat Its Stellar Bull Run Anytime Soon Which Makes Lordstown a Much More Attractive Bet, Workhorse (NASDAQ: WKHS) Shares Adding To Their 836 Percent Year-To-Date Gains as the Lordstown Motors Analyst Day Termed “Compelling”, Workhorse (NASDAQ: WKHS) Shares on Course for a Third All-Time High in as Many Days on the Back of a Combination of Bullish Factors, Workhorse (NASDAQ: WKHS) Investors Bank on U.S. For latest tech news in your inbox, once a day! Workhorse (NASDAQ: WKHS) Tanks as the USPS Next Generation Delivery Vehicle (NGDV) Contract Now Expected To Be Announced Toward the End of 2020. He has several years of experience analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. FedEx Can Return Another 4% After Rallying 15% In A Month, Despite Its Huge Run-Up, Hyliion Stock is Still a Long-Term Buy, Q3 earnings ringing in; FactSet sees drop in earnings across sectors. Workhorse currently sells two of these delivery vans, the C-650 and the C-1000. Many analysts are betting the president will award the contract to better his chances of winning his re-election bid.

Both of these use the same motor, have a similar top speed, similar range, similar battery capacity and similar braking systems. Yet, as it witnesses a 900% share price growth since the start of June, when perhaps coincidentally its in-production items were also at a record high, Workhorse should be better served to products that will enable it to turn a profit and help it gain market share.

All of these factors have pushed WKHS stock to unprecedented and frankly unrealistic highs.

Although the cat-and-mouse game will continue, it’s clear investors have already priced in the contract before it’s awarded. The company is selling $200 million of its 4% senior secured convertible notes to two institutional lenders.

Workhorse's C100 electric vehicle titled 'Aerospace Flight Operations' for drone deliveries. There are plenty of reasons to be bullish on the stock. Image: Workhorse, Some posts on Wccftech.com may contain affiliate links. When Tesla (NASDAQ:TSLA) is the most prominent auto company in the world, ahead of Ford (NYSE:F) and Toyota (NYSE:TM), the writing is on the wall. The existing Aerospace Flight Operations platform uses Workhorse's C-series delivery vans. There are more signs of the company getting the USPS contract than against, so if you are willing to play the numbers, go right ahead.

Also, Workhorse has closed on $70 million in financing through offering a senior secured convertible note. The postal service wants to replace the white, right-hand-drive vans with next-generation delivery trucks. Despite several catalysts, the biggest driver of WKHS stock’s recent surge is the potential USPS contract. Commerce Policy | … Although for now, when it comes to WKHS stock, it still does look like a speculation, given the U.S. The markets dealt Workhorse (NASDAQ:WKHS) stock some heavy blows after the U.S.

It will hold the proceeds from the $200 million in debt in escrow, and at the end of June, Workhorse had $26 million in cash and equivalents, out of which $25 million were restricted.

For Workhorse, such capital injections are necessary due to its plans for building a new product from the ground up. If you are willing to take on a bit of risk, then go ahead and keep investing in the stock. It’s understandable that the prospect of an $8.1 billion federal contract will send shares soaring.

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