Heading into its Feb. 24 earnings call, Nikola (NASDAQ:NKLA) stock fans will be holding their breath.
Why? Nikola ended 2021 on a sour note. Founder Trevor Milton stepped down after facing fraud charges, which he has since denied. The electric vehicle startup also faced roadblocks in automotive partnerships and started to lose momentum.
Heading into the new year, however, NKLA stock is looking to make a rebound. The company has inked a number of high-profile deals recently that have some investors hopeful for a comeback.
NKLA Stock Looks to Regain Momentum in 2022
What do you need to know about the EV maker heading into its consequential earnings report? Well, recent investor sentiment on Nikola has slowly but surely turned in the right direction.
Nikola has repeatedly made headlines after signing letters of intent with customers. In January, Nikola signed LOIs with USA Truck (NASDAQ:USAK), SAIA and Covenant Logistics (NASDAQ:CVLG) for between 50-100 trucks each. This is pending a pilot truck program, but regardless, it’s a strong sign Nikola still presents value to clients.
Additionally, California’s Air Resources Board recently deemed Nikola’s Tre Battery Electric Vehicle (BEV) trucks eligible for the Hybrid and Zero-Emission Truck and Bus Voucher Inventive Program (HVIP). This means California-based buyers of Nikola’s trucks can qualify for an up-to-$120,000 incentive per truck.
Expert investors haven’t overlooked the promising news, either.
Wall Street Starts to Bet on Nikola
This month, well-known Wedbush analyst Dan Ives upgraded his Nikola rating to “neutral.” Elaborating on his decision, he said:
“While some clear hurdles remain for Nikola to achieve its hydrogen and semi-truck vision over the next year, we believe most of the negative catalysts we were fearing have now played out in the market with a more balanced risk/reward on the name looking ahead.”
February’s earnings call could very well be a make-or-break moment for Nikola. Interested investors would be wise to mark Feb. 24 on their calendars and get ready to see how the EV startup does.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.