Nikola (NASDAQ:NKLA) Trading 0.1% Higher

Nikola Co. (NASDAQ:NKLA)’s share price traded up 0.1% during trading on Thursday . The stock traded as high as $0.63 and last traded at $0.60. 25,087,557 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 94,514,352 shares. The stock had previously closed at $0.60.

Wall Street Analyst Weigh In

NKLA has been the subject of several research reports. Wolfe Research initiated coverage on Nikola in a report on Tuesday, April 9th. They set a “peer perform” rating for the company. Robert W. Baird assumed coverage on Nikola in a research report on Wednesday, January 24th. They set an “outperform” rating and a $2.00 target price on the stock. Finally, DA Davidson restated a “neutral” rating and set a $1.00 target price on shares of Nikola in a research report on Tuesday, March 5th.

Nikola Trading Up 7.3 %

The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. The stock has a market cap of $891.69 million, a PE ratio of -0.52 and a beta of 2.10. The firm has a 50-day simple moving average of $0.74 and a 200-day simple moving average of $0.82.

Nikola (NASDAQ:NKLA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The business had revenue of $11.53 million during the quarter, compared to analysts’ expectations of $14.52 million. During the same quarter last year, the business posted ($0.46) EPS. Equities analysts forecast that Nikola Co. will post -0.44 earnings per share for the current year.

Insider Buying and Selling at Nikola

In other news, insider Joseph R. Pike sold 75,162 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $0.68, for a total transaction of $51,110.16. Following the transaction, the insider now directly owns 429,790 shares of the company’s stock, valued at $292,257.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Capstone Investment Advisors LLC grew its stake in shares of Nikola by 142.3% in the first quarter. Capstone Investment Advisors LLC now owns 584,567 shares of the company’s stock worth $608,000 after purchasing an additional 343,273 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Nikola by 10.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,646,363 shares of the company’s stock valued at $4,832,000 after acquiring an additional 454,804 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Nikola during the 1st quarter valued at approximately $43,000. Van ECK Associates Corp boosted its position in Nikola by 65.4% during the 1st quarter. Van ECK Associates Corp now owns 10,695,472 shares of the company’s stock valued at $11,123,000 after acquiring an additional 4,229,114 shares in the last quarter. Finally, Krane Funds Advisors LLC boosted its position in Nikola by 7.4% during the 4th quarter. Krane Funds Advisors LLC now owns 419,671 shares of the company’s stock valued at $367,000 after acquiring an additional 29,016 shares in the last quarter. 37.38% of the stock is owned by institutional investors.

About Nikola

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.