TD Cowen analyst Jeff Osborne lowered the firm’s price target on Workhorse Group to 25c from $3 and keeps a Hold rating on the shares. The firm noted liquidity remains front of mind and revenue came in well below expectations after difficulties with the HVIP vouchers which delayed deliveries to end customers and stopped revenue from being recognized. Investors fear and assume further dilution before scaled commercialization is reached.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WKHS:
- Workhorse Group Reports Second Quarter 2024 Results
- Options Volatility and Implied Earnings Moves Today, August 20, 2024
- Workhorse Group reports ‘going concern’ qualification
- Workhorse Group reports Q2 EPS ($1.40) vs. ($2.40) last year
- Options Volatility and Implied Earnings Moves This Week, August 19 – August 22, 2024