Nikola Stock (NKLA) conquer fourth-quarter estimates & announced development on critical production goals, while Fisker (FSR) reported demand which is good need for its EV. Nikola stock as well as Fisker inventory rose late.
Nikola Stock Earnings
Estimates: Analysts anticipate a loss of 23 cents a share on nominal revenue. Thus far, Nikola's modest product sales came by using solar energy installations and not coming from electric vehicles.
According to FintechZoom, Nikola posted a 17-cent loss per share on zero revenue. In Q4, Nikola made "significant progress" at the Ulm of its, Germany plant, with trial generation of the Tre semi truck set to begin in June. It also noted success at the Coolidge of its, Ariz. website, which will begin producing the Tre later inside the third quarter. Nikola has finished the assembly of the earliest 5 Nikola Tre prototypes. It affirmed an objective to provide the first Nikola Tre semis to customers 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, within Q4. A fuel cell version of the Tre, with longer range up to 500 miles, is actually set following in the second half of 2023. The company additionally is looking for the launch of a fuel cell semi truck, considered the Two, with up to 900 miles of range, in late 2024.
The Tre EV will be at first produced in a factory inside Ulm, Germany and eventually inside Coolidge, Ariz. Nikola establish a goal to significantly finish the German plant by end of 2020 as well as to do the very first stage of the Arizona plant's development by end 2021.
But plans in order to create an electric pickup truck suffered a severe blow in November, when General Motors (GM) ditched designs to bring an equity stake in Nikola and to assist it construct the Badger. Actually, it agreed to provide fuel cells for Nikola's business-related semi trucks.
Stock: Shares rose 3.7 % late Thursday soon after closing lower 6.8 % to 19.72 in regular stock market trading. Nikola stock closed again below the 50 day model, cotinuing to trend smaller right after a drumbeat of bad news.
Chinese EV maker Li Auto (LI), that noted a surprise profit early Thursday, fell 9.8 %. Tesla (TSLA) slumped 8.1 % right after it halted Model 3 generation amid the global chip shortage. Electrical powertrain producer Hyliion (HYLN), which reported high losses Tuesday, sold off of 7.5 %.
Nikola Stock (NKLA) beat fourth quarter estimates & announced development on critical production