Nikola Co. (NASDAQ:NKLA – Get Free Report) saw some unusual options trading on Tuesday. Investors purchased 106,537 call options on the company. This is an increase of 47% compared to the typical volume of 72,550 call options.
Institutional Trading of Nikola
Large investors have recently added to or reduced their stakes in the stock. Capital Wealth Alliance LLC acquired a new position in Nikola during the 3rd quarter worth about $25,000. Marshall Wace LLP purchased a new position in shares of Nikola in the 4th quarter valued at about $25,000. Banque Pictet & Cie SA purchased a new position in shares of Nikola in the 3rd quarter valued at about $27,000. Quantbot Technologies LP purchased a new position in shares of Nikola in the 1st quarter valued at about $29,000. Finally, Merit Financial Group LLC purchased a new position in shares of Nikola in the 2nd quarter valued at about $30,000. 24.17% of the stock is currently owned by hedge funds and other institutional investors.
Nikola Stock Performance
Shares of NKLA stock traded down $0.02 during trading hours on Tuesday, hitting $0.63. 49,636,444 shares of the company’s stock were exchanged, compared to its average volume of 102,136,781. The company has a current ratio of 1.61, a quick ratio of 1.41 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $0.86 and a two-hundred day moving average of $1.30. Nikola has a fifty-two week low of $0.52 and a fifty-two week high of $3.71.
Nikola (NASDAQ:NKLA – Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.16). Nikola had a negative return on equity of 151.40% and a negative net margin of 1,475.52%. The firm had revenue of ($1.73) million for the quarter, compared to analysts’ expectations of $15.52 million. On average, equities research analysts predict that Nikola will post -1 EPS for the current fiscal year.
About Nikola
Nikola Corporation operates as a technology innovator and integrator that develops energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) to the trucking sector.