Nikola (NASDAQ:NKLA) Stock Price Up 1%

Nikola Co. (NASDAQ:NKLA)’s stock price rose 1% on Monday . The company traded as high as $0.72 and last traded at $0.71. Approximately 43,086,543 shares traded 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.

Wall Street Analyst Weigh In

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

Nikola Stock Up 1.8 %

The firm’s 50 day moving average is $0.76 and its 200 day moving average is $0.88. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.37.

Nikola (NASDAQ:NKLA) last released its quarterly earnings results 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 firm had revenue of $11.53 million for the quarter, compared to analyst estimates of $14.52 million. During the same quarter in the prior year, the firm earned ($0.46) EPS. Equities analysts predict that Nikola Co. will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other Nikola news, insider Joseph R. Pike sold 75,162 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $0.68, for a total value of $51,110.16. Following the transaction, the insider now owns 429,790 shares in the company, valued at approximately $292,257.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NKLA. Captrust Financial Advisors increased its stake in shares of Nikola by 97.2% during the 1st quarter. Captrust Financial Advisors now owns 4,657 shares of the company’s stock worth $50,000 after purchasing an additional 2,296 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Nikola during the 1st quarter worth $29,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Nikola by 4.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 79,059 shares of the company’s stock worth $847,000 after purchasing an additional 3,523 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Nikola by 9.2% during the 2nd quarter. Principal Financial Group Inc. now owns 45,302 shares of the company’s stock worth $216,000 after purchasing an additional 3,811 shares during the last quarter. Finally, Nomura Holdings Inc. increased its stake in shares of Nikola by 19.4% during the 2nd quarter. Nomura Holdings Inc. now owns 29,770 shares of the company’s stock worth $143,000 after purchasing an additional 4,832 shares during the last quarter. Institutional investors and hedge funds own 37.38% of the company’s stock.

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.