ZEV manufacturer, Nikola Corporation, has finished phase 1 of Coolidge Factory (in Arizona) allowing the company to produce 2,500 trucks per year. Construction is underway for Phase 2 with expected completion in Q1 2023.
NIKOLA will host its Analyst Day on March 23rd, and its Investor Day on March 24th. On those days, Nikola management will host a presentation on the company’s leading Class 8 truck program and Energy business.
On February 28th, DA Davidson Analyst Michael Shlisky reiterated Nikola’s Neutral rating and downgraded the price target from $12 to $8. On February 25th, J.P. Morgan Chase and Co. Analyst, Bill Peterson, lowered Nikola’s price target from $12 to $10 representing an upside of 24.38%. The analyst reiterated Nikola’s Neutral rating. The company reported yesterday its financial results for the quarter and full-year ended December 31, 2021. Also Deutsche Bank reiterated Nikola with a Hold rating, lowering price target to $11 from $19. Shares jumped almost 18% after Earnings Report on yesterday’s session closing at $8.04.
Recently, the company announced that it has appointed Lynn Forester de Rothschildto its Board of Directors. Forester de Rothschild is a co-founder of Inclusive Capital Partners (“In-Cap”) and will now represent the group on the board, replacing In-Cap co-founder, Jeff Ubben.
“Lynn’s work in environmental and social issues will be a real asset to Nikola’s board as we execute on our many strategic and business priorities,” said Steve Girsky, chairman of Nikola’s Board of Directors. “I also want to thank Jeff Ubben for his many contributions to the Nikola Board and for his help transitioning Lynn, who will now represent Inclusive Capital Partners on the Nikola Board.”