Streetbeat News

NKLA

Nikola Corporation

https://www.nikolamotor.com

Industry

Agricultural - Machinery

Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector. The Energy business unit develops and constructs a network of hydrogen fueling stations; and offers BEV charging solutions for its FCEV and BEV customers, as well as other third-party customers. The company also assembles, integrates, and commissions its vehicles in collaboration with its business partners and suppliers. Nikola Corporation is headquartered in Phoenix, Arizona.

Open

2.53

Mkt cap

142M

Volume

8.5M

High

2.57

P/E Ratio

-0.24

52-wk high

34.50

Low

2.32

Div yield

N/A

52-wk low

2.16

Nikola Corporation (NASDAQ:NKLA) shares fell in premarket trading after Wolfe Research initiated coverage with a Peer Perform rating, citing challenges such as sparse charging infrastructure and high hydrogen costs. Additionally, internal board disputes, highlighted by a contentious battle for board seats led by Trevor Milton's controlled entity, M&M Residual, LLC, have raised investor concerns. Direxion Moonshot Innovators ETF (NYSE:MOON) offers exposure to NKLA stock.

Portfolio Pulse from Nabaparna Bhattacharya

April 11, 2024 | 12:21 pm

Wolfe Research analyst Scott Group initiates coverage on Nikola (NASDAQ:NKLA) with a Peer Perform rating, indicating a neutral outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 12:12 pm

Electric vehicle stocks experienced a sell-off in the week ending April 5, influenced by broader market trends and company-specific news. Tesla reported its first year-over-year sales decline since Q2 2020, attributing it to production transitions and disruptions. Despite this, Ark Invest purchased $76 million in Tesla shares. Rivian celebrated its 100,000th vehicle production, while Nikola exceeded Q1 delivery expectations. Ford delayed its EV production plans, and Canoo's shares plummeted after a disappointing forecast. The KraneShares Electric Vehicles ETF saw a slight increase on Friday but fell overall for the week.

Portfolio Pulse from Shanthi Rexaline

April 06, 2024 | 1:17 pm

Recent economic data and Federal Reserve officials' remarks have led investors to adjust expectations for interest rate cuts, as the U.S. economy shows resilience with job growth and manufacturing expansion. Energy stocks, particularly the Energy Select Sector SPDR Fund, benefited from rising oil prices. Apple is refocusing on home robotics, potentially entering a new market. Disney's board received strong shareholder support, affirming CEO Bob Iger's leadership. Eli Lilly faces supply challenges for its popular weight loss drugs on Amazon Pharmacy. Nikola Corp outperformed other EV stocks, including Tesla, Rivian, and Lucid, highlighting its recovery and focus on hydrogen fuel cell trucks.

Portfolio Pulse from Piero Cingari

April 05, 2024 | 8:23 pm

Nikola Corporation (NASDAQ:NKLA) shares rose 6% following the announcement of its Q1 production results, including the production and wholesaling of 43 and 40 Class 8 hydrogen fuel cell EVs, respectively. The company also began returning battery-electric trucks from a voluntary recall. Nikola plans to report its Q1 financial results on May 7, with expected losses of 10 cents per share and revenue of $14.235 million. The stock's movement is also discussed in the context of technical analysis and its current price action.

Portfolio Pulse from Erica Kollmann

April 05, 2024 | 3:06 pm

Nikola Corp (NKLA) has seen a 14.46% YTD gain, outperforming other EV makers like Tesla, Rivian, and Lucid, despite facing challenges such as vehicle recalls and executive changes. The company's focus on hydrogen fuel cell electric trucks and the anticipated return of its BEVs contribute to its stock's positive trend. In contrast, Tesla, Rivian, and Lucid have experienced significant YTD losses, while traditional automakers like General Motors and Ford have seen their stock prices rise.

Portfolio Pulse from Anan Ashraf

April 05, 2024 | 11:23 am

U.S. equities, including the S&P 500 and Nasdaq 100, are on track for record closes, driven by a risk-on sentiment and anticipation of a slowing labor market. AI-related stocks and the 'Magnificent 7' led gains, while gold took a breather and Bitcoin rebounded. Notable movements were seen in ETFs like AIQ and MAGS, and stocks such as META, TSLA, FSLR, and ENPH. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust also saw increases.

Portfolio Pulse from Piero Cingari

April 04, 2024 | 5:50 pm

Nikola Corporation's shares are experiencing an uptick following the announcement of their Q1 production results.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:59 pm

Nikola Corporation (NASDAQ:NKLA) shares are up in premarket trading after a significant drop the previous day. The company announced it produced and wholesaled 43 and 40 Class 8 hydrogen fuel cell electric vehicles, respectively, in Q1 2024 for U.S. customers. Nikola also began returning BEV "2.0" trucks to customers. However, the company has not completed its quarterly review or financial statements for Q1 2024. Earlier, Nikola took legal action against EMBR Motors and individuals involved in a takeover attempt after selling them the Badger electric pickup truck assets.

Portfolio Pulse from Nabaparna Bhattacharya

April 04, 2024 | 1:08 pm

Nikola Corporation announced the production of 43 hydrogen fuel cell electric trucks and the wholesale of 40 trucks in the first quarter of 2024. This marks a significant step in the company's efforts to lead in the hydrogen fuel cell electric vehicle market.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 12:06 pm

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