Shares of Workhorse Group, Inc. (WKHS) got a little lift in Thursday's premarket trading. The reason? On Wednesday, the company said it's expanding the options for its electric delivery vans, adding a new, cheaper model to the lineup. It's a classic move: when you're trying to sell something, sometimes you need to offer a budget version.

A New, More Affordable Option for Fleets

Workhorse is adding a 140 kWh battery version of its W56 step van. They're calling it a lower-priced option, with an estimated range of 100 miles per charge when it's fully loaded. The starting price is $169,000, and that includes the fully integrated composite body. For context, the company already sells versions with larger, more expensive battery packs that go farther. This one is for the fleet manager who's really focused on that upfront cost.

Timing the Launch With Fuel Prices in Mind

The company didn't just drop this news randomly. They tied the announcement directly to the uncertainty around fuel costs, noting that oil prices recently topped $100 a barrel after disruptions in the Middle East. They even cited commentary from Goldman Sachs suggesting that triple-digit oil could stick around for years. The message to potential buyers is clear: buying an electric van now could be a hedge against your diesel bill going haywire.

The new van comes in two wheelbase sizes. The Standard version (178 inches) offers 1,000 cubic feet of cargo space and can carry 11,000 pounds. The Expanded version (208 inches) also targets 1,000 cubic feet of space with a 10,000-pound payload, and it's designed for added stability.

CEO Scott Griffith said this specific 140 kWh configuration came straight from customer feedback. The idea is to better balance range, durability, reliability, and performance while lowering the initial cost for fleets. In other words, customers asked for a cheaper truck, and Workhorse is giving it a shot.

A Look at the Stock's Technical Picture

Now, let's talk about the stock, because it's been a rough ride. Even with the premarket pop, Workhorse is trading about 1.5% below its 20-day simple moving average ($3.36) and a whopping 44.6% below its 100-day simple moving average ($5.98). That keeps the longer-term trend pointed firmly down. Over the past year, the shares are down 87.38%. They're much closer to the 52-week low of $3.03 than the high of $67.32.

The Relative Strength Index (RSI) is at 33.56, which is neutral but still lingering near what traders call the "washed-out" zone. The stock actually hit oversold conditions back on March 18, 2026. The MACD indicator is at -0.2358, which is above its signal line of -0.2713—that's considered a bullish crossover. The positive histogram of 0.0356 suggests the downward pressure might be easing a bit.

So, you have an RI in the 30–50 range with a bullish MACD signal. That hints at some bullish momentum trying to build. But it's all happening inside a much bigger, bearish downtrend, as shown by those declining moving averages. It's like a small wave trying to form in a receding tide.

• Key Resistance: $3.50
• Key Support: $3.00

Earnings Are Just Around the Corner

Adding to the drama, the company is scheduled to report earnings on March 31, 2026. The estimates tell a story of their own:

• EPS Estimate: A loss of $8.88 per share. That's down significantly from a loss of 94 cents per share in the same period last year.
• Revenue Estimate: $2.50 million. That's up from $1.93 million year-over-year.

So, the expectation is for much larger losses on slightly higher revenue. It's a tough financial picture that the new van announcement is trying to brighten.

How the Stock Moved

In the end, the news gave the stock a nudge. Workhorse shares were up 4.09% at $3.31 during Thursday's premarket session, according to market data.