Nikola Stock Is Rising Wednesday: What's Driving The Action?

Nikola Corp NKLA shares are trading higher. The company on Wednesday announced sales data for the third quarter.

What Happened: Nikola wholesaled 88 Class 8 hydrogen fuel cell electric trucks in the third quarter. The company had previously guided for sales of 80 to 100 fuel cell electric trucks in the period.

Nikola has now wholesaled 200 hydrogen fuel cell trucks since the start of 2024, bringing total sales up to 235 since the company began selling the trucks in the fourth quarter of 2023.

“This is a record sales quarter for Nikola, with 88 hydrogen fuel cell electric trucks wholesaled to our dealers for end customers, as well as the addition of a first-ever U.S. dealer-based HYLA modular refueling station,” said Steve Girsky, CEO of Nikola.

“Despite overall market headwinds, Nikola remains focused on our mission to pioneer solutions for a zero-emission world, and we’re doing it one truck at a time.”

Nikola noted that it has not yet completed preparing its financial statements for the third quarter. The company is not due to report third-quarter results for about a month. Analysts currently expect the company to report a third-quarter loss of $2.40 per share and revenue of $37.004 million, according to estimates from Benzinga Pro.

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NKLA Price Action: Nikola shares were up 4.09% at $4.85 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Nikola.