![]() Shlisky’s price target for Nikola’s share price is also $10.00 a share, 5.93% higher than the 20 August’s close. There are currently two buys, six holds and one sell rating, resulting in a consensus hold. ![]() Overall, Wall Street’s average 12-month price target is $16.71, predicting that the stock has a possible upside of 87.75%, according to MarketBeat. “Given the number of new electric commercial vehicle launches expected from large established OEMs and other new entrants over the next two-to-three years, the first-mover advantage makes a successful ramp in H221 key to our buy thesis” - Christopher Souther With a $16.00 price target, Souther is pricing in a potential 77.77% upside on the Workhorse share price. Riley’s Christopher Souther offers a more optimistic outlook, while staying cautious: “Given the number of new electric commercial vehicle launches expected from large established OEMs and other new entrants over the next two-to-three years, the first-mover advantage makes a successful ramp in H221 key to our buy thesis”. His Workhorse share price target is $10.00, offering a potential upside of 12.36% on the 20 August close.ī. Shlisky launched coverage of both stocks with a hold rating last week, reports Barron’s, saying “we’re staying on the sidelines given the risk”. What’s the outlook for Workhorse and Nikola share prices? Russell cautioned that increasingly tight supplies of key components could push back the start of commercial deliveries to the first quarter of 2022, which could put further pressure on Nikola’s share price. On the downside, Nikola is yet to generate revenue, with vehicle sales yet to begin, reporting a loss of $0.36 per share in its most recent quarter, worse than the expected $0.29. Nikola’s first product, a battery-powered heavy-duty truck for shorter-haul applications, is a positive for the company and almost ready to ship, says Shlisky. Since then, Nikola’s share price has dropped 28.92%.Īfter taking over, Russell has tightened Nikola’s focus to big trucks and fuel, reports Forbes. ![]() “Workhorse and the EV industry at large are at an inflexion point we have a tremendous opportunity ahead of us, and we intend to move decisively to capture a meaningful share of this nascent market,” he added.Īt Nikola, CEO Mark Russell took over from Trevor Milton, who resigned last September and was indicted for securities fraud on 29 July. “Workhorse and the EV industry at large are at an inflexion point we have a tremendous opportunity ahead of us, and we intend to move decisively to capture a meaningful share of this nascent market” - Richard Dauch “Dauch's experience with turnarounds within the auto industry makes him a nice fit for Workhorse as it looks to ramp production,” he said, according to The Fly.ĭauch himself said at this month’s disappointing second quarter earnings call: “Workhorse is making the transition from an advanced technology start-up to a leading manufacturer of pure electric-powered last-mile delivery solutions, which is no small task.” Riley, believes the appointment of Dauch is a shrewd moved. That’s down to the new CEO, Dauch, who previously held the same position at Delphi Technologies.Ĭhristopher Souther, an analyst at B. ![]() However, the company lowered its full-year production guidance from 1,800 vehicles to 1,000 vehicles off the back of supply chain issues before removing its revised guidance. Workhorse is credited with being an early mover in the electric van space, Michael Shilsky, an analyst at DA Davidson, wrote in a note seen by Barron’s. In contrast to Workhorse’s three-month performance, Nikola’s share price has continued to slide, dropping 21.2% since 21 May.Ĭan new leadership revitalise both EV stocks?īoth companies are likely to face a period of change under new leadership – industry veteran Richard Dauch picked up the reins at Workhorse earlier this month. Nikola’s share price accelerated to a 52-week high of $54.56 on 8 September 2020, but since then, the shares have plunged 82.7%. Nikola’s share price has been similarly disappointing, down 41.3% year-to-date and 75.6% over the last 12 months, as of the 20 August close of $9.44. ![]()
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