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Nikola Corp Up 4.4% To $7.86 After Earnings Beat

Thursday, August 04, 2022 11:37 AM | InvestorsObserver Analysts

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Nikola Corp Up 4.4% To $7.86 After Earnings Beat

Nikola Corp (NKLA) said before open Thursday that it lost $0.25 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $18.1 million, beating estimates by $1.7 million.

In the same quarter a year ago, the company lost $0.2 per share on revenue of $0.00.

The stock is up 4.4% to $7.86 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 47. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Nikola Corp is a designer and manufacturer of battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure.

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