Nikola Corporation Reports Second Quarter 2023 Results
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DA Davidson cuts estimates on Nikola (NKLA) as company tackles cash burn
August 7, 2023 10:42 AM EDTDA Davidson reiterated a Neutral rating on EV maker, Nikola Corp. (NASDAQ: NKLA) and cut their 12-month price target on the stock to $2.50 (From $3.00) following the automakers 2Q earnings release and conference calls with management.
Analyst Michael Shlisky believes that the company is on track to decrease its cash burn to $400 million per year by the year's end. The provided guidance on implied exit run rates offers some insight into the cost... More
Nikola (NKLA) passes vote to increase shares with help from new law
August 4, 2023 9:45 AM EDTElectric truck maker Nikola Corp (NASDAQ: NKLA) revealed Thursday evening that has received sufficient backing for a proposal to raise the allowable number of shares it can issue, paving the way for acquiring much-needed capital.
Nikola faced multiple attempts before successfully passing the proposal, with the most recent attempt taking place last month.... More
Nikola (NKLA) names Girsky new CEO as Lohscheller steps down
August 4, 2023 9:13 AM EDTShares of Nikola Corp. (NASDAQ: NKLA) were down as much as 11% in pre-market trading Friday morning after the American heavy-duty electric truck company revealed that CEO Michael Lohscheller will be stepping down from the position effectively immediately due to a family heath matter.
Lohscheller will be replaced by Chairman Steve Girsky who has more than 30 years of experience working with corporate board executives,... More
Shares sink in early trading as Nikola (NKLA) reports 2Q results and leadership changes
August 4, 2023 8:56 AM EDTShares of American heavy-duty electric truck startup, Nikola (NASDAQ: NKLA) sunk as much as 11% in pre-market trading Friday after the automaker reported its financial results and business updates for the second quarter ended June 30, 2023.
Nikola reported 2Q EPS of ($0.20), $0.02 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $15.36 million versus the consensus estimate of $15... More
