The rush to drive a new paradigm in the automobile space is already well underway, with the Biden administration announcing this week that it plans to replace combustion vehicles in government fleets with electric vehicles.
“The federal government also owns an enormous fleet of vehicles, which we’re going to replace with clean, electric vehicles made right here in America, by American workers,” Biden said Monday during remarks as he signed his “Made in America” executive order.
This represents yet another jet engine strapped to the back of the EV stock boom. Momentum abounds. These are special times for investors involved in related stocks.
With that in mind, we profile a few of the most interesting opportunities in the space, including: Workhorse Group Inc (NASDAQ:WKHS), KULR Technology Group Inc (OTCMKTS:KULR), BYD Company ADR (OTCMKTS:BYDDY), and FuelCell Energy Inc (NASDAQ:FCEL).
Workhorse Group Inc (NASDAQ:WKHS) trumpets itself as a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric vehicles including trucks and aircraft.
Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment.
Workhorse Group Inc (NASDAQ:WKHS) recently announced that it has received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises, a premier Canadian and U.S. based, privately held company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. The order is split between Workhorse’s C-1000 and C-650 models and is subject to various production and delivery conditions.
According to the release, inventory financing is being provided by Hitachi Capital America as part of the Company’s previously announced strategic partnership with HCA. Initial delivery of the vehicles may begin by July 2021 and will run through 2026. The delivered vehicles will be distributed through Pride dealerships for fleet use.
The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 49% in that timeframe. Shares of the stock have powered higher over the past month, rallying roughly 63% in that time on strong overall action.
Workhorse Group Inc (NASDAQ:WKHS) managed to rope in revenues totaling $565K in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 13162.3%, as compared to year-ago data in comparable terms. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($80.2M against $132.1M, respectively).
KULR Technology Group Inc (OTCMKTS:KULR) is a key emerging player in the EV battery space. The company’s advisory board features the co-founder of the next company on this list – BYD – which is backed by Warren Buffet (as covered on CNBC and logged via BusinessWire), and it has positioned itself as an interesting battery platform game-changer that may catch fire as market participants shift focus to pick-and-shovels in the EV marketplace. Which is probably inevitable.
The company develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. It is basically a hedge for L-Ion battery technology by removing downside risk for EV manufacturers through beneficially shifting the probability of negative battery events.
KULR Technology Group Inc (OTCMKTS:KULR) offers lithium-ion battery thermal runaway shields; fiber thermal interface materials; phase change material heatsinks; HYDRA TRS battery storage bags; internal short circuit device; and CRUX cathodes. Its technologies are used in electric vehicles and autonomous driving systems, artificial intelligence and cloud computing, and energy storage and 5G communication technologies.
The company just announced that its Co-Founder and Chief Executive Officer, Michael Mo, recently participated in a live interview on the “Big Biz Show,” an Emmy-award winning nationally syndicated TV and radio show. A replay of the interview is available for viewing on the Company’s website at https://kulrtechnology.com/videos.
The interview contains a good summary of its long-time partnership with NASA, its history of working with space and defense contractors, how it has handled the pandemic, why its tech is a potential game-changer in the EV marketplace, and how it is leveraging its IP toward scalable results ahead.
If you’re long this stock, then you’re liking how it has responded in recent action. KULR shares have been moving higher over recent days, pushing about 20% to the upside on above average trading volume.
KULR Technology Group Inc (OTCMKTS:KULR) is an early-stage more speculative player, but with growing exposure and a widening base of core industry ties. The big commercial performance is still out in front of this one provided the execution is there.
BYD Company ADR (OTCMKTS:BYDDY) is another name in the EV space that has been skyrocketing higher in recent action. Backed by Warren Buffet, BYD is linked to KULR (above) by dint of its co-founder being an advisor on the KULR board, as noted.
The company trumpets itself as “the largest supplier of rechargeable batteries on the planet and has the largest market share for Nickel-cadmium batteries, handset Li-ion batteries, cell-phone chargers, and keypads worldwide.”
BYD is the largest supplier of rechargeable batteries and has the second largest market share for cell-phone shells in the world.
BYD Company ADR (OTCMKTS:BYDDY) continues to grow. According to the China Passenger Car Association, around 169,000 New Energy Vehicles (BEVs, PHEVs and FCEVs) were sold in China in November, 136.5 per cent more than in the same month last year.
Most electric vehicles sold last month were SAIC GM Wuling (SGMW), BYD and Tesla. The three automakers account for nearly half of the country’s NEV sales: SAIC GM Wuling reported 36,070 electric vehicles sold in November, BYD 26,015 units and Tesla 21,604 electric cars. According to media reports, BYD represents a 138 per cent improvement over the same month last year.
And the stock has been acting well over recent days, up something like 18% in that time.
BYD Company ADR (OTCMKTS:BYDDY) generated sales of $64B, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of -8.1% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($14.5B against $111.1B, respectively).
FuelCell Energy Inc (NASDAQ:FCEL) designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation.
The company offers SureSource product line based on carbonate fuel cell technology in various configurations, including on-site power, utility grid support, distributed hydrogen, and micro-grid, as well as multi-megawatt applications; and SureSource Recovery power plants for natural gas pipeline applications.
FuelCell Energy Inc (NASDAQ:FCEL) recently reported financial results and key business highlights for its fourth fiscal quarter and fiscal year ended October 31, 2020.
“One year ago we launched our Powerhouse business strategy, with the first pillar of the strategy – Transform – containing the key deliverable of building a solid financial foundation,” said Mr. Jason Few, President and CEO. “Having made progress toward this goal, and as we look toward the second year of our journey, we intend to focus on operational and commercial excellence, while maintaining prudent capital deployment, reducing our overall cost of capital and focusing on lean resource management, cost reduction opportunities, and developing and defining a clear strategic roadmap for the Company. We are firmly focused on delivering revenue growth as we strive to capture the significant market opportunities that we believe lay before us with our proprietary technologies.”
And the stock has been acting well over recent days, up something like 29% in that time.
FuelCell Energy Inc (NASDAQ:FCEL) generated sales of $17M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of -9.2% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($159.1M against $58.9M).