Nikola Faces Financial Strain as Analysts Slash Price Targets

The electric truck maker struggles with cash burn and missed earnings, prompting efforts to secure additional capital.

Nikola's stock price is nearing all-time lows, with analysts from TD Cowen and Baird significantly reducing their price targets.
The company reported third-quarter revenue of $25.2 million, falling short of the expected $37.2 million, and a loss of $2.75 per share.
Nikola's CFO Tom Okray revealed a cash runway of five to six months, with ongoing efforts to raise funds to extend operations into 2025.
Despite achieving record shipments of 88 fuel cell electric vehicles in Q3, Nikola's financial performance remains under pressure.
A recent stock offering amendment aims to raise an additional $237.6 million, following a major recall and repurchase of battery electric trucks.