Nikola
Investors looking for a play in the electric vehicle arena may be intrigued by this company. Nikola Corp. (NASDAQ: NKLA) operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units.
The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi trucks to the trucking sector. The Energy business unit develops and constructs a network of hydrogen fueling stations, and it offers battery electric vehicle (BEV) charging solutions for its fuel cell electric vehicle and BEV customers, as well as other third-party customers. The company also assembles, integrates, and commissions its vehicles in collaboration with its business partners and suppliers.
BTIG Research started coverage this past week, and its $12 target price is higher than the $10.61 consensus target for Nikola stock. The stock traded at $5.15 on Friday.
Nokia
This telecommunications company ruled the cell phone arena until the advent of the smartphone in 2007 and recently re-emerged as a top meme stock. Nokia Corp. (NYSE: NOK) owns two main businesses: 1) Nokia Networks, a network infrastructure equipment supplier to global wireless and wireline operators, and 2) Technologies, its patent/IPR licensing activities.
In a very positive sign for investors, the company has resumed its quarterly dividend and initiated a share buyback program after reporting very solid fourth-quarter results, with comparable operating earnings above market estimates as the telecom equipment maker kept costs in check. Nokia also forecasted annual revenue that was largely ahead of projections and set a long-term target for operating margins of at least 14%, replacing its earlier 2023 target of between 11% and 13%.
Credit Suisse recently upgraded the stock to Outperform with a $6.12 target price. The consensus target is $6.83. Nokia stock traded on Friday at $4.75.
SoFi Technologies
This is a meme stock trader favorite. SoFi Technologies Inc. (NASDAQ: SOFI) provides digital financial services, and it took the SPAC route for its initial public offering back in June of 2021.
The company’s financial services allow its members to borrow, save, spend, invest and protect their money. The company offers student loans, personal loans for debt consolidation and home improvement projects, and home loans.
SoFi also provides cash management, investment and other related services. In addition, it operates Galileo, a technology platform that offers services to financial and non-financial institutions, and Apex, a technology-enabled platform that provides investment custody and clearing brokerage services.
BofA Securities upgraded SoFi Technologies stock this past week and has a $9 price target. The consensus target is $8.63. Shares traded on Friday at $6.20 apiece.
These are five stocks for aggressive investors looking to get share count leverage on companies that have sizable upside potential. While not suited for all investors, they are not penny stocks with absolutely no history or liquidity, and major Wall Street firms have research coverage.
Originally posted at 24/7 Wall St.
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