Nikola (NASDAQ:NKLA) Stock Price Up 4.3%

Nikola Co. (NASDAQ:NKLA) shares rose 4.3% during trading on Monday . The company traded as high as $0.68 and last traded at $0.67. Approximately 38,384,049 shares changed hands during trading, a decline of 60% from the average daily volume of 95,138,773 shares. The stock had previously closed at $0.64.

Wall Street Analyst Weigh In

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

Nikola Stock Up 1.1 %

The company has a market cap of $882.20 million, a P/E ratio of -0.53 and a beta of 1.99. The stock’s 50-day moving average price is $0.75 and its 200-day moving average price is $0.83. 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 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 company had revenue of $11.53 million for the quarter, compared to the consensus estimate of $14.52 million. During the same period last year, the company earned ($0.46) EPS. As a group, research analysts forecast that Nikola Co. will post -0.44 EPS for the current year.

Insider Transactions at Nikola

In related 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 value of $51,110.16. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Nikola

Institutional investors and hedge funds have recently made changes to their positions in the business. Krane Funds Advisors LLC increased its stake in Nikola by 7.4% in the 4th quarter. Krane Funds Advisors LLC now owns 419,671 shares of the company’s stock valued at $367,000 after buying an additional 29,016 shares during the last quarter. Cantor Fitzgerald L. P. increased its stake in Nikola by 817.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 93,244 shares of the company’s stock valued at $82,000 after buying an additional 83,081 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Nikola by 162.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock valued at $43,000 after buying an additional 30,490 shares during the last quarter. Capstone Investment Advisors LLC increased its stake in Nikola by 368.1% in the 4th quarter. Capstone Investment Advisors LLC now owns 241,294 shares of the company’s stock valued at $211,000 after buying an additional 189,751 shares during the last quarter. Finally, Norges Bank purchased a new stake in Nikola in the 4th quarter valued at about $93,633,000. 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.