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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Nikola Corporation    NKLA

NIKOLA CORPORATION

(NKLA)
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Nikola bags order to make 2,500 electric garbage trucks for Republic Services

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08/10/2020 | 02:36pm EDT

Aug 10 (Reuters) - Republic Services Inc will partner with Nikola Corp, a maker of hydrogen-fueled vehicles, to develop 2,500 electric waste and recycling collection trucks, the companies said on Monday.

Nikola shares jumped nearly 22% in afternoon trading.

Ambitious greenhouse gas reduction targets set by governments around the world are driving the development of alternatively-powered vehicles, with some countries already committing to phasing out traditional combustion engines.

The zero-emission vehicles, which will have a range of 150 miles (241.4 km), are expected to be integrated into Republic Services' fleet beginning in 2023, the companies said. (https://prn.to/3fRIdGp)

Republic, a recycling and non-hazardous solid waste disposal firm, highlighted quieter operation in neighborhoods, lower maintenance costs, and lower emissions as benefits of electrifying its fleet.

The deal is expandable to 5,000 vehicles over the life of the agreement, the companies added.

Major vehicle manufacturers around the world have electric or fuel cell models in their product line-ups, but investment in the technology, coupled with a global automotive sector downturn, has squeezed profits and led to staff and cost cuts.

Along with Hyundai Motor Co and Toyota, Nikola is one of a few automakers to have backed hydrogen cars.

The company is aiming to start production of its Badger pickup truck in 2022 or earlier, which will compete with electric car maker Tesla Inc's Cybertruck. The pickup truck is expected to be available in both electric and fuel-cell versions. (Reporting by Subrat Patnaik and Munsif Vengattil in Bengaluru; editing by Uttaresh.V)

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI CORPORATION -2.64% 14750 End-of-day quote.-17.60%
HYUNDAI MOTOR COMPANY 2.21% 185000 End-of-day quote.53.53%
NIKOLA CORPORATION -19.33% 27.58 Delayed Quote.167.25%
REPUBLIC SERVICES, INC. -1.82% 94.04 Delayed Quote.4.92%
TESLA, INC. 1.64% 449.39 Delayed Quote.437.12%
TOYOTA INDUSTRIES CORPORATION 1.52% 6670 End-of-day quote.5.37%
TOYOTA MOTOR CORPORATION 0.24% 7038 End-of-day quote.-8.76%
UNITED PARCEL SERVICE 0.88% 161.06 Delayed Quote.37.59%
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Financials (USD)
Sales 2020 0,14 M - -
Net income 2020 -385 M - -
Net cash 2020 549 M - -
P/E ratio 2020 -26,3x
Yield 2020 -
Capitalization 10 452 M 10 452 M -
EV / Sales 2020 71 503x
EV / Sales 2021 105x
Nbr of Employees 256
Free-Float 34,7%
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Technical analysis trends NIKOLA CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 43,00 $
Last Close Price 27,58 $
Spread / Highest target 186%
Spread / Average Target 55,9%
Spread / Lowest Target -23,9%
EPS Revisions
Managers
NameTitle
Mark A. Russell President, Chief Executive Officer & Director
Trevor Milton Executive Chairman
Kim J. Brady Chief Financial Officer & Director
Dane Davis Chief Technology Officer
Isaac Sloan Chief Information Officer & Software Architect
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1st jan.Capitalization (M$)
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