NKLA Stock Surges 8% as Nikola Beats Q1 Delivery Estimates


  • Nikola (NKLA) stock is up on Thursday after beating Q1 delivery estimates.
  • It delivered 40 EVs during the quarter.
  • Wall Street was estimating 30 EV deliveries during that period.
NKLA Stock - NKLA Stock Surges 8% as Nikola Beats Q1 Delivery Estimates

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Nikola (NASDAQ:NKLA) stock is up on Thursday after the hydrogen fuel cell electric vehicle (EV) company’s deliveries for the first quarter of 2024 beat out estimates.

This saw the company report a total of 40 vehicle deliveries during the quarter. That beat out the consensus estimate of 30 units from four analysts.

It’s also worth mentioning that Nikola produced 43 total units during this same time. The company says that the three units that weren’t delivered in Q1 have already been allocated and will be delivered in April.

Nikola CEO Steve Girsky said the following about the company’s Q1 deliveries:

“We anticipate further sales growth in future quarters as our HYLA hydrogen fueling solutions come online. This includes our recently celebrated first modular refueling station in Ontario, Calif., as well as our first Canadian refueling station in Edmonton, Alberta.”

What’s Next for NKLA Stock?

The next big catalyst for Nikola stock will likely be its financial results for the first quarter of 2024. The company says that this filing isn’t ready just yet. However, it intends to provide more information about this soon.

NKLA stock is up 8% as of Thursday morning with more than 91.8 million shares traded. That’s about to surpass its daily average trading volume of roughly 92.9 million shares.

Investors will want to stick around for even more of the most recent stock market stories!

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On the date of publication, William White 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.

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