WKHS Stock News: Workhorse Group Inc. rebounds nicely amidst Wall Street optimism
- NASDAQ:WKHS gains back 10.96% on Thursday after a sell-off earlier this week.
- Wall Street analysts from R.F. Lafferty reiterates its bullish stance on the stock.
- Another analyst, Roth Capital Partners, appears to be a little more hesitant on Workhorse.
It did not take long for NASDAQ:WKHS to recover from its dip earlier in the week as the stock gained 10.96% on Thursday to close the trading session at $22.67. The rebound comes after a near 20% sell-off on Wednesday after it was reported after the closing bell on Tuesday that USPS would be delaying its long awaited contract decision to replenish its aging fleet. It is a nice turnaround for a stock that has long been tied to the result of this USPS contract, as investors may be seeing that Workhorse could succeed with or without USPS’ help.
The dramatic peaks and valleys that Workhorse has experienced this week has caught the eye of several prominent Wall Street analysts who have chimed in on their thoughts of the recent volatility. R.F. Lafferty and Oppenheimer have both had their analysts reiterate their bullish stance on Workhorse, citing that the delay of the USPS contract really does not change much in the grand scheme of things. An analyst from Roth Capital Partners is a little more reserved on the decision and believes that the delay gives competitors like Ford (NYSE:F) more time to improve their offers and electric vehicle technology.
WKHS stock news
Where is the true path for Workhorse? Perhaps somewhere in the middle. Wall Street and investors continue to be torn on Workhorse and how to assess the company moving forward. On one hand, the USPS contract or at least a portion of it, would be a game-changing moment for Workhorse, but on the other hand, the continued delays could mean USPS just is not impressed by the offers they are mulling over.
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FXStreet
