Nikola (NASDAQ:NKLA) Shares Up 1.5%

Nikola Co. (NASDAQ:NKLA)’s share price traded up 1.5% during trading on Friday . The stock traded as high as $0.62 and last traded at $0.61. 34,302,300 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 95,388,992 shares. The stock had previously closed at $0.60.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wolfe Research began coverage on Nikola in a research report on Tuesday, April 9th. They issued a “peer perform” rating on the stock. DA Davidson reiterated 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 began coverage on Nikola in a research note on Wednesday, January 24th. They issued an “outperform” rating and a $2.00 price target for the company.

Nikola Trading Up 7.2 %

The firm has a 50 day moving average of $0.75 and a 200-day moving average of $0.85. 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 firm has a market capitalization of $859.33 million, a P/E ratio of -0.48 and a beta of 1.99.

Nikola (NASDAQ:NKLA) last released its earnings results on Thursday, February 22nd. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $11.53 million for the quarter, compared to the consensus estimate of $14.52 million. During the same quarter in the previous year, the company earned ($0.46) earnings per share. On average, equities research analysts predict that Nikola Co. will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph R. Pike sold 75,162 shares of the 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Institutional Trading of Nikola

A number of institutional investors and hedge funds have recently bought and sold shares of NKLA. Capital Wealth Alliance LLC bought a new stake in Nikola in the 3rd quarter valued at about $25,000. Silicon Valley Capital Partners purchased a new position in Nikola in the third quarter valued at approximately $30,000. Marathon Trading Investment Management LLC purchased a new position in Nikola in the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC lifted its stake in Nikola by 162.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock valued at $43,000 after purchasing an additional 30,490 shares during the last quarter. Finally, Rathbones Group PLC bought a new stake in Nikola during the 3rd quarter valued at $46,000. 37.38% of the stock is currently owned by institutional investors and hedge funds.

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.