Nikola Co. (NASDAQ:NKLA – Get Free Report) rose 1% on Monday . The company traded as high as $0.72 and last traded at $0.71. Approximately 43,086,543 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 98,912,125 shares. The stock had previously closed at $0.70.
Analysts Set New Price Targets
NKLA has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $1.00 price objective on shares of Nikola in a research note on Tuesday, March 5th. Robert W. Baird assumed coverage on Nikola in a research note on Wednesday, January 24th. They set an “outperform” rating and a $2.00 price target for the company. Finally, Wolfe Research assumed coverage on Nikola in a research note on Tuesday, April 9th. They set a “peer perform” rating for the company.
Nikola Stock Performance
The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.96. The business has a 50-day simple moving average of $0.76 and a 200-day simple moving average of $0.89. The firm has a market capitalization of $868.28 million, a PE ratio of -0.56 and a beta of 1.99.
Nikola (NASDAQ:NKLA – Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $11.53 million for the quarter, compared to analysts’ expectations of $14.52 million. During the same quarter last year, the company earned ($0.46) earnings per share. Equities research analysts expect that Nikola Co. will post -0.44 earnings per share for the current fiscal year.
Insider Transactions at Nikola
In other news, insider Joseph R. Pike sold 75,162 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $0.68, for a total value of $51,110.16. Following the sale, the insider now directly owns 429,790 shares in the company, valued at $292,257.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.00% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors raised its position in Nikola by 97.2% during the 1st quarter. Captrust Financial Advisors now owns 4,657 shares of the company’s stock valued at $50,000 after purchasing an additional 2,296 shares in the last quarter. Quantbot Technologies LP bought a new stake in Nikola during the 1st quarter valued at $29,000. Cambridge Investment Research Advisors Inc. raised its position in Nikola by 4.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 79,059 shares of the company’s stock valued at $847,000 after purchasing an additional 3,523 shares in the last quarter. Principal Financial Group Inc. raised its position in Nikola by 9.2% during the 2nd quarter. Principal Financial Group Inc. now owns 45,302 shares of the company’s stock valued at $216,000 after purchasing an additional 3,811 shares in the last quarter. Finally, Nomura Holdings Inc. raised its position in Nikola by 19.4% during the 2nd quarter. Nomura Holdings Inc. now owns 29,770 shares of the company’s stock valued at $143,000 after purchasing an additional 4,832 shares in the last quarter. 37.38% of the stock is currently owned by hedge funds and other institutional investors.
Nikola Company Profile
Nikola Corporation operates as a technology innovator and integrator that develops energy and transportation solutions in the United States and internationally. The company operates in truck and energy units. It commercializes battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) to the trucking sector.