Shares of EV maker Nikola Corp. (NASDAQ:NKLA) are under pressure in the pre-market session today after a previously damaged electric truck reignited at its Phoenix facility, according to Reuters.
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While there were no injuries during the fire, the incident comes on top of a fire at Nikola’s headquarters last month. The company suspects ‘foul play’ around the fire, which damaged multiple vehicles.
Despite a massive 23.5% short interest, Nikola shares have popped nearly 67% over the past month after Fortescue Future Industries agreed to acquire Nikola’s Phoenix Hydrogen Hub project and BayoTech agreed to acquire nearly 50 Nikola class 8 EVs over a period of five years.
Separately, Nikola is also slated to announce second-quarter numbers on August 4 and is largely expected to incur a net loss per share of $0.22 for the period. In the year-ago quarter, it posted a net loss per share of $0.25, outperforming expectations by $0.02.
Overall, the Street has a $3.25 consensus price target on Nikola alongside a Hold consensus rating.
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