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

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Portfolio Pulse from Lisa Levin

November 24, 2023 | 5:21 pm

Several U.S. stocks recorded losses on Monday despite the Dow Jones gaining over 50 points. Notable decliners include Yatsen Holding, Syntec Optics Holdings, reAlpha Tech, Korro Bio, Genelux Corporation, Chegg, Perdoceo Education, Nikola Corporation, International Paper Company, Honda Motor, Toyota Motor, and Tyra Biosciences. Chegg's stock fell after a downgrade by Morgan Stanley, while Perdoceo Education announced leadership changes.

Portfolio Pulse from Lisa Levin

November 20, 2023 | 3:51 pm

Electric vehicle stocks saw gains in the week ending Nov. 18, with Tesla (TSLA) up over 10% despite controversy over CEO Elon Musk's support for antisemitic content. Tesla faces union issues in Sweden and prepares for the Cybertruck launch. Nikola (NKLA) announced the resignation of CFO Anastasiya Pasterick. Fisker (FSR) reported disappointing Q3 results and internal control weaknesses. Rivian (RIVN) offers incentives for R1T purchases. Volkswagen (VWAGY) recalls ID.4s over flammability concerns. The KraneShares Electric Vehicles ETF (KARS) ended the week up 4.51% but down 0.88% on Friday.

Portfolio Pulse from Shanthi Rexaline

November 18, 2023 | 2:39 pm

Nikola Corp's CFO, Anastasiya 'Stasy' Pasterick, has informed the company of her resignation, effective December 1, 2023, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 9:10 pm

Trevor Milton, founder of Nikola Corp (NASDAQ:NKLA), is seeking probation to avoid jail time after being convicted of fraud. His lawyers argue that Nikola is a 'real company with real products,' unlike Theranos. They claim Milton had no malicious intent, just unwavering faith in his company. Nikola's Q3 gross loss increased, and a recall was issued for its battery electric trucks due to fire incidents.

Portfolio Pulse from Anan Ashraf

November 16, 2023 | 6:59 am

Nikola Corporation (NASDAQ:NKLA) stock has risen 8% to $1.11 over the past five sessions after a disappointing earnings report earlier this month. The company reported a gross loss of $125.5 million, an expanded EBITDA loss of $188.6 million, and an adjusted EPS loss of 30 cents, missing consensus estimates. Despite receiving orders for 324 trucks, production issues led to only 3 truck shipments in the quarter. Nikola also faces increased expenses due to a truck recall and aims to achieve profitability by 2025. Nikola shares were also affected by Plug Power Inc's (NASDAQ:PLUG) worse-than-expected Q3 financial results, which led to volatility in the hydrogen industry stocks.

Portfolio Pulse from Henry Khederian

November 15, 2023 | 4:09 pm

Nikola Corporation (NASDAQ:NKLA) stock is down 7.6% with no new company-specific news. The decline may be due to last week's poor earnings report and a negative reaction to Plug Power Inc's (NASDAQ:PLUG) worse-than-expected Q3 financial results. Nikola's recent earnings showed a lack of truck production, only 3 truck shipments, and a significant gross loss. The company also faces increased expenses from a truck recall and needs to raise capital to reach profitability by 2025.

Portfolio Pulse from Henry Khederian

November 10, 2023 | 5:22 pm

Nikola Corp's stock is trading lower by 4.6% despite no company-specific news. This may be due to the disappointing sales results reported last week, primarily due to a lack of truck production and only 3 truck shipments in the quarter. The company posted a large gross loss of $125.5 million, expanded EBITDA loss of $188.6 million, and an adjusted EPS loss of 30 cents, missing consensus estimates. Nikola also anticipates increased expenses due to a truck recall.

Portfolio Pulse from Henry Khederian

November 07, 2023 | 3:38 pm

Electric vehicle stocks advanced in the week ending Nov. 3, with key events including Tesla's potential unionization, Rivian hiring a Mercedes-Benz veteran, and Nikola's Q3 loss widening due to a battery fire recall. Fisker shares ended lower for the week due to weakness in the EV market and the departure of its CTO. Nio plans to cut 10% of jobs in November. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 4.25% for the week.

Portfolio Pulse from Shanthi Rexaline

November 04, 2023 | 1:09 pm

Nikola Corporation reported its Q3 financial results, with adjusted losses of 30 cents per share, missing the analyst consensus estimate of losses of 14 cents per share. The company also reported quarterly revenue of $(1.73) million. Nikola anticipates increased costs associated with its ongoing battery electric truck recall, leading to an additional capital requirement of approximately $400 million. Despite the losses, the company's shares are trading higher.

Portfolio Pulse from Erica Kollmann

November 03, 2023 | 4:19 pm

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