Nikola Co. (NASDAQ:NKLA – Get Rating) CEO Mark A. Russell sold 75,000 shares of the firm’s stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $2.91, for a total transaction of $218,250.00. Following the completion of the sale, the chief executive officer now owns 2,812,346 shares in the company, valued at approximately $8,183,926.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Nikola Stock Performance
NKLA traded up $0.13 during trading on Friday, reaching $3.01. 12,626,470 shares of the company’s stock were exchanged, compared to its average volume of 13,354,865. Nikola Co. has a fifty-two week low of $2.80 and a fifty-two week high of $15.56. The company has a quick ratio of 1.95, a current ratio of 2.15 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $4.60 and a 200 day moving average price of $5.85. The company has a market capitalization of $1.30 billion, a P/E ratio of -1.63 and a beta of 1.54.
Nikola (NASDAQ:NKLA – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.04. The business had revenue of $18.10 million for the quarter, compared to analyst estimates of $16.58 million. During the same quarter in the prior year, the firm earned ($0.36) EPS. The firm’s quarterly revenue was up 1710.0% on a year-over-year basis. As a group, analysts predict that Nikola Co. will post -1.91 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Nikola
Several institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Nikola by 1.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,941 shares of the company’s stock valued at $1,135,000 after purchasing an additional 1,749 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Nikola by 30.2% in the second quarter. Nisa Investment Advisors LLC now owns 8,200 shares of the company’s stock valued at $39,000 after buying an additional 1,900 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Nikola by 15.8% in the first quarter. Independent Advisor Alliance now owns 14,904 shares of the company’s stock valued at $160,000 after buying an additional 2,030 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Nikola by 7.0% in the first quarter. Teacher Retirement System of Texas now owns 33,390 shares of the company’s stock valued at $358,000 after buying an additional 2,186 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Nikola by 97.2% in the first quarter. Captrust Financial Advisors now owns 4,657 shares of the company’s stock valued at $50,000 after buying an additional 2,296 shares during the last quarter. Institutional investors and hedge funds own 23.34% of the company’s stock.
Analyst Upgrades and Downgrades
NKLA has been the topic of several research analyst reports. BTIG Research upgraded shares of Nikola from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Nikola from $7.00 to $8.00 in a research note on Friday, August 5th. Finally, Cowen lowered their price objective on shares of Nikola to $12.50 in a research note on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Nikola currently has a consensus rating of “Hold” and a consensus price target of $10.83.
Nikola Company Profile
Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector.