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Aug. 3, 2021, 9:09 a.m. EDT

Nikola stock rallies after reporting narrower loss than expected

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By Tomi Kilgore

Shares of Nikola Corp. /zigman2/quotes/208704275/composite NKLA +3.48% rallied 2.0% in premarket trading Tuesday, after the battery-electric and hydrogen-electric vehicle and components maker reported a narrower-than-expected second-quarter loss. The company said net losses narrowed to $143.2 million, or 36 cents a share, after a loss of $115.8 million, or 43 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss widened to 20 cents from 16 cents but beat the FactSet loss consensus of 30 cents. The company didn't record revenue in the second quarter, after recording $36,000 in solar revenue last year. The company said the second-half 2021 objectives it expects to achieve include delivering pre-series Nikola Tre battery-electric vehicles (BEVs) for use on public roads to haul freight, break ground on the first commercial hydrogen station. The stock has tumbled 26.7% year to date through Monday, while EV-market leader Tesla Inc. shares /zigman2/quotes/203558040/composite TSLA +0.33% have edged up 0.6% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.91% has advanced 16.8%.

/zigman2/quotes/208704275/composite
US : U.S.: Nasdaq
$ 10.69
+0.36 +3.48%
Volume: 18.48M
Sept. 17, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.26 billion
Rev. per Employee
$211.11
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 759.49
+2.50 +0.33%
Volume: 28.20M
Sept. 17, 2021 4:00p
P/E Ratio
395.75
Dividend Yield
N/A
Market Cap
$751.91 billion
Rev. per Employee
$445,694
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/zigman2/quotes/210599714/realtime
US : S&P US
4,432.99
-40.76 -0.91%
Volume: 3.79B
Sept. 17, 2021 5:25p
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