Nikola (NASDAQ:NKLA – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Thursday, February 23rd. Analysts expect Nikola to post earnings of ($0.46) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.
Nikola Price Performance
Shares of Nikola stock opened at $2.67 on Thursday. The stock has a market capitalization of $1.28 billion, a P/E ratio of -1.56 and a beta of 1.49. The business has a 50 day simple moving average of $2.45 and a two-hundred day simple moving average of $3.62. Nikola has a 12 month low of $2.01 and a 12 month high of $11.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.75 and a quick ratio of 1.46.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on NKLA shares. Wedbush lowered their price objective on Nikola from $10.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, November 4th. Cowen cut their price objective on shares of Nikola from $12.50 to $10.00 in a research report on Friday, November 4th. Cowen decreased their target price on shares of Nikola from $12.50 to $10.00 in a report on Friday, November 4th. Finally, BTIG Research cut their price target on shares of Nikola from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, January 17th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nikola has an average rating of “Hold” and an average price target of $8.38.
Insider Activity
In other Nikola news, Director Mark A. Russell sold 75,000 shares of the stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $2.78, for a total value of $208,500.00. Following the sale, the director now owns 2,812,346 shares of the company’s stock, valued at approximately $7,818,321.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark A. Russell sold 75,000 shares of Nikola stock in a transaction on Friday, November 18th. The shares were sold at an average price of $2.78, for a total transaction of $208,500.00. Following the completion of the sale, the director now directly owns 2,812,346 shares of the company’s stock, valued at approximately $7,818,321.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Russell sold 927,429 shares of the stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $2.14, for a total value of $1,984,698.06. Following the completion of the transaction, the director now directly owns 1,959,917 shares in the company, valued at approximately $4,194,222.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,981,605 shares of company stock worth $4,569,305. Corporate insiders own 18.30% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in shares of Nikola during the 4th quarter worth approximately $25,000. Quantbot Technologies LP acquired a new stake in shares of Nikola during the 1st quarter worth $29,000. Captrust Financial Advisors increased its stake in Nikola by 134.3% during the third quarter. Captrust Financial Advisors now owns 10,472 shares of the company’s stock worth $37,000 after acquiring an additional 6,003 shares during the last quarter. CI Private Wealth LLC purchased a new position in Nikola in the fourth quarter valued at approximately $65,000. Finally, Victory Capital Management Inc. raised its position in Nikola by 17.4% in the fourth quarter. Victory Capital Management Inc. now owns 36,412 shares of the company’s stock valued at $79,000 after purchasing an additional 5,405 shares during the period. Institutional investors and hedge funds own 20.86% of the company’s stock.
Nikola Company Profile
Nikola Corp. engages in the provision of zero-emissions transportation and infrastructure solutions. It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems and hydrogen fueling station infrastructure. The company was founded by Trevor Milton in 2015 and is headquartered in Phoenix, AZ.