Nikola (NKLA) Gets a Hold Rating from J.P. Morgan

J.P. Morgan analyst Bill Peterson maintained a Hold rating on Nikola (NKLAResearch Report) yesterday and set a price target of $9.00. The company’s shares closed last Thursday at $7.95.

According to TipRanks.com, Peterson is a 4-star analyst with an average return of 9.4% and a 53.8% success rate. Peterson covers the Technology sector, focusing on stocks such as Archer Aviation, Joby Aviation, and Plug Power.

The word on The Street in general, suggests a Hold analyst consensus rating for Nikola with a $9.00 average price target, implying a 17.2% upside from current levels. In a report released today, Deutsche Bank also maintained a Hold rating on the stock with a $8.00 price target.

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Based on Nikola’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.89 million and GAAP net loss of $153 million. In comparison, last year the company had a GAAP net loss of $120 million.

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Nikola Corporation (NASDAQ:NKLA) focuses on providing zero-emission transportation solutions. It is engaged in manufacturing heavy-duty commercial battery and hydrogen fuel cell vehicles. Meanwhile, through its Energy business, Nikola provides charging and infrastructure support to its vehicles and third-party customers.

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