Nikola Stock (NKLA) beat fourth quarter estimates and announced advancement on key production objectives, while Fisker (FSR) claimed strong demand demand for its EV. Nikola stock as well as Fisker inventory rose late.
Nikola Stock Earnings
Estimates: Analysts expect a loss of twenty three cents a share on nominal earnings. Thus much, Nikola’s modest sales came from solar installations and not coming from electric vehicles.
According to FintechZoom, Nikola posted a 17-cent loss per share on zero earnings. In Q4, Nikola created “significant progress” at the Ulm of its, Germany grow, with trial generation of the Tre semi-truck set to start in June. In addition, it reported improvement at its Coolidge, Ariz. website, which will begin producing the Tre later on in the third quarter. Nikola has finished the assembly of the earliest 5 Nikola Tre prototypes. It affirmed a target to give the original Nikola Tre semis to people in Q4.
Nikola’s lineup includes battery electric and hydrogen fuel cell semi trucks. It’s targeting a launch of the battery-electric Nikola Tre, with 300 miles of range, in Q4. A fuel-cell model with the Tre, with longer range as many as 500 miles, is set following in the second half of 2023. The company also is looking for the launch of a fuel cell semi truck, called the Two, with up to 900 miles of range, inside late 2024.
The Tre EV will be initially made in a factory inside Ulm, Germany and ultimately in Coolidge, Ariz. Nikola set a goal to considerably finish the German plant by conclusion of 2020 as well as to complete the first cycle belonging to the Arizona plant’s development by end of 2021.
But plans in order to create an electric pickup truck suffered a major blow in November, when General Motors (GM) ditched blueprints to bring an equity stake in Nikola as well as to help it build the Badger. Instead, it agreed to supply fuel cells for Nikola’s business-related semi-trucks.
Inventory: Shares rose 3.7 % late Thursday right after closing lower 6.8 % to 19.72 for constant stock market trading. Nikola stock closed back under the 50 day model, cotinuing to trend smaller right after a drumbeat of news that is bad.
Chinese EV maker Li Auto (LI), that reported a surprise profit early on Thursday, fell 9.8 %. Tesla (TSLA) slumped 8.1 % after it halted Model 3 generation amid the global chip shortage. Electric powertrain maker Hyliion (HYLN), that reported high losses Tuesday, sold off of 7.5 %.
Nikola Stock (NKLA) beat fourth-quarter estimates & announced development on key production