Shares of Workhorse Group (WKHS) got a nice little bump on Monday. The reason? A logistics company called Purolator decided it likes Workhorse's electric vans enough to order 100 more of them.
Think of it as a vote of confidence with a purchase order attached. This isn't Purolator's first rodeo with Workhorse; the new batch of vehicles will actually double the number of Workhorse electric step vans in its fleet. It's a solid milestone for their partnership, and Workhorse says it plans to deliver these vans throughout 2026.
The company is framing this as evidence of growing demand for electric delivery solutions, which, sure, that's probably true. They also tossed out an impressive stat: they've already delivered over 1,100 vehicles that have collectively racked up more than 20 million miles. That's a lot of packages delivered without a tailpipe in sight.
A New, Cheaper Van on the Lot
Speaking of demand, Workhorse seems to be listening to its customers. Just last week, the company added a new, more budget-friendly version of its W56 step van. This one comes with a 140 kWh battery pack and is positioned as a lower-priced option. The estimated range is about 100 miles per charge at full payload, and the price starts at $169,000, which includes a fully integrated composite body.
CEO Scott Griffith said this 140 kWh configuration came straight from customer feedback. The idea is to better balance range, durability, reliability, and performance while lowering the upfront cost for fleets. Because let's be honest, convincing a fleet manager to go electric involves a lot of math, and a lower sticker price makes that math a whole lot easier.
Where the Stock Stands: A Tale of Two Trends
Here's where things get interesting. On one hand, the market was in a good mood on Monday. The Consumer Discretionary sector was up, and major indices like the S&P 500 were green. Workhorse's stock moved higher right along with them, which is the normal, happy story.
On the other hand, if you zoom out, the picture for Workhorse shares is... less cheerful. The stock is currently trading 11.9% below its 20-day simple moving average and a whopping 49.6% below its 100-day average. That reflects some serious ongoing challenges in regaining any kind of sustained upward momentum.
Over the past 12 months, the shares have decreased by 86.78%. They're hanging out much closer to their 52-week low of $2.73 than their high of $67.32. So, while a 5% pop on an order announcement is nice, it's a small step on a very long road back.
