Nikola (NASDAQ:NKLA) Trading 1% Higher

Nikola Co. (NASDAQ:NKLA) shares were up 1% during trading on Tuesday . The stock traded as high as $0.66 and last traded at $0.64. Approximately 20,764,791 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 96,579,539 shares. The stock had previously closed at $0.63.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NKLA shares. DA Davidson reiterated a “neutral” rating and set a $1.00 price target on shares of Nikola in a research report on Tuesday, March 5th. Robert W. Baird started coverage on Nikola in a research report on Wednesday, January 24th. They set an “outperform” rating and a $2.00 price target on the stock. Finally, Wolfe Research started coverage on Nikola in a research report on Tuesday, April 9th. They set a “peer perform” rating on the stock.

Nikola Trading Up 1.5 %

The company has a market capitalization of $854.79 million, a price-to-earnings ratio of -0.51 and a beta of 1.99. The firm has a 50-day moving average price of $0.75 and a 200-day moving average price of $0.86. 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 issued its earnings results 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 company had revenue of $11.53 million during the quarter, compared to analyst estimates of $14.52 million. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. As a group, sell-side analysts predict that Nikola Co. will post -0.44 EPS for the current year.

Insider Buying and Selling

In related news, insider Joseph R. Pike sold 75,162 shares of Nikola stock in a transaction 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 transaction, the insider now directly owns 429,790 shares in the company, valued at approximately $292,257.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Trading of Nikola

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Nikola by 43.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,242,060 shares of the company’s stock worth $8,230,000 after buying an additional 1,577,112 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Nikola by 5.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,369,619 shares of the company’s stock valued at $2,150,000 after purchasing an additional 75,880 shares during the last quarter. Swiss National Bank boosted its position in Nikola by 14.6% during the third quarter. Swiss National Bank now owns 1,260,400 shares of the company’s stock valued at $1,979,000 after purchasing an additional 160,700 shares during the last quarter. Vanguard Group Inc. boosted its position in Nikola by 27.1% during the third quarter. Vanguard Group Inc. now owns 56,706,189 shares of the company’s stock valued at $89,029,000 after purchasing an additional 12,085,830 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Nikola by 78.3% during the fourth quarter. Arizona State Retirement System now owns 291,130 shares of the company’s stock valued at $255,000 after purchasing an additional 127,856 shares during the last quarter. Institutional investors and hedge funds 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.