Nikola (NASDAQ:NKLA) Stock Price Up 5.8%

Nikola Co. (NASDAQ:NKLA)’s stock price shot up 5.8% on Thursday . The stock traded as high as $0.68 and last traded at $0.68. 17,143,873 shares changed hands during trading, a decline of 83% from the average session volume of 98,210,844 shares. The stock had previously closed at $0.64.

Analyst Upgrades and Downgrades

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

Nikola Stock Down 2.4 %

The business’s fifty day moving average price is $0.76 and its 200 day moving average price is $0.87. 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 earnings results on Thursday, February 22nd. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.05. The firm had revenue of $11.53 million during the quarter, compared to analysts’ expectations of $14.52 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. On average, research analysts predict that Nikola Co. will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Nikola

In other news, insider Joseph R. Pike sold 75,162 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $0.68, for a total transaction of $51,110.16. Following the completion of the transaction, the insider now owns 429,790 shares of the company’s stock, valued at approximately $292,257.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Nikola

A number of large investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in shares of Nikola in the 4th quarter worth $25,000. Capital Wealth Alliance LLC acquired a new position in shares of Nikola in the 3rd quarter valued at about $25,000. Wexford Capital LP acquired a new position in shares of Nikola in the 4th quarter valued at about $25,000. Banque Pictet & Cie SA acquired a new stake in Nikola during the 3rd quarter worth approximately $27,000. Finally, Quantbot Technologies LP purchased a new position in Nikola in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 37.38% of the company’s stock.

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.