Roth MKM lowered the firm’s price target on Workhorse Group (WKHS) to $1 from $1.25 and keeps a Neutral rating on the shares. The company’s Q3 results missed revenue forecasts while its shrinking market cap is crimping the management’s ability to raise capital and forcing the team to reduce costs, the analyst tells investors in a research note. The firm adds that it will look for Workhorse management to achieve reduced equity dilution and improve revenue growth before revisiting its rating.
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Read More on WKHS:
- Workhorse Group’s Financial Struggles Threaten Operations Amid Capital Shortage
- Workhorse Group price target raised to $1.25 from 25c at TD Cowen
- Workhorse Group’s Q3 2024 Earnings: Strategic Progress Amid Challenges
- Closing Bell Movers: Keysight up 9% after Q4 earnings beat
- Workhorse Group says company has $106.7M in financing facility still available
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
