Nikola (NASDAQ:NKLA) is another hidden-gem penny stock worth watching. The company specializes in zero-emission transportation and infrastructure products.

In the coming year, Nikola plans to expand its presence in the zero-emissions vehicle market, with a focus on increasing deliveries of its hydrogen fuel cell electric trucks. Despite reporting a significant net loss last quarter, the company tripled its unrestricted cash through a $250M raise and has sufficient resources to continue its development.

With a debt-to-equity ratio of 0.38 and a current ratio of 1.61, signaling a reasonable balance between liabilities and assets, Nikola’s current financial position appears stable. Price targets for the stock range from $1 to $5, despite its current valuation of just $0.68.

The future looks promising for battery-electric and hydrogen fuel cell electric vehicles, and Nikola’s plans to boost truck deliveries and expand its hydrogen fueling infrastructure could be beneficial for investors in the long run.

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