Nikola (NASDAQ:NKLA) Trading Up 0.1%

Nikola Co. (NASDAQ:NKLA) shares traded up 0.1% during trading on Thursday . The company traded as high as $0.63 and last traded at $0.60. 25,087,557 shares were traded during mid-day trading, a decline of 73% from the average session volume of 94,514,352 shares. The stock had previously closed at $0.60.

Analyst Ratings Changes

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

Nikola Stock Up 1.4 %

The company has a market cap of $830.66 million, a P/E ratio of -0.48 and a beta of 2.10. The stock has a 50-day moving average of $0.74 and a 200 day moving average of $0.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.96.

Nikola (NASDAQ:NKLA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.12) earnings per share for the quarter, beating 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 business posted ($0.46) earnings per share. Research analysts anticipate that Nikola Co. will post -0.44 earnings per share for the current year.

Insider Buying and Selling at Nikola

In related news, insider Joseph R. Pike sold 75,162 shares of the firm’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 completion of the transaction, the insider now owns 429,790 shares in the company, valued at approximately $292,257.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Capital Wealth Alliance LLC bought a new position in shares of Nikola in the third quarter valued at $25,000. Silicon Valley Capital Partners bought a new position in Nikola during the third quarter worth about $30,000. Marathon Trading Investment Management LLC bought a new stake in Nikola during the 3rd quarter valued at $33,000. Rathbones Group PLC purchased a new stake in shares of Nikola during the third quarter worth $46,000. Finally, Private Advisor Group LLC bought a new position in shares of Nikola in the third quarter worth $51,000. 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.