The Shyft Group Inc (NASDAQ: SHYF) said on Wednesday that it had inked an agreement with Amerit Fleet Solutions to provide 24/7 maintenance and support services for Blue Arc EV trucks across the United States.
Blue Arc EVs will soon become available via a select network of dealerships, each staffed by technicians trained and certified by Shyft’s Blue Arc engineering team, the company said.
“We’re committed to keeping the customer at the center of all we do,” John Dunn, President and Chief Executive Officer of The Shyft Group, said in a press release.
“As we transition to EV technology, we’re focused on ensuring a seamless experience for our last-mile customers and drivers. Our comprehensive service model includes onsite dealer service, access to our Blue Arc EV Tech Support team, a proven parts ordering system, and now, Amerit’s 24/7 EV Fleet Maintenance program to minimize downtime and keep fleets on the road,” the CEO added.
Stock Performance
The shares of The Shyft Group Inc (SHYF) closed 0.63% ($0.08) lower at $12.68 on Nasdaq on Wednesday, as they snapped a three-day streak of gains.
The company’s total market cap now stands at $435.864 million.
The shares of The Shyft Group Inc (SHYF) went down 50.84% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).
The company’s shares have risen 3.76% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 1 out of 2 surveyed investment analysts had rated The Shyft Group Inc’s stock as “Buy”, while other 1 – as “Hold”. The median price target on the stock stands at $68.50, which translates into a 440.22% upside compared to the closing price on Wednesday.
The high point of the analyst forecast range stands at $125.00.
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