Nikola (NASDAQ:NKLA) Given a $10.00 Price Target by Evercore ISI Analysts

Evercore ISI set a $10.00 price objective on Nikola (NASDAQ:NKLAGet Rating) in a research note issued to investors on Monday, Stock Target Advisor reports.

NKLA has been the topic of several other research reports. Cowen lowered their price target on shares of Nikola from $25.00 to $15.00 and set an outperform rating on the stock in a report on Friday, February 25th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nikola from $19.00 to $11.00 and set a hold rating on the stock in a report on Friday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of Nikola from $12.00 to $10.00 and set a neutral rating on the stock in a report on Friday, February 25th. Wedbush lowered their price target on shares of Nikola from $15.00 to $10.00 in a report on Tuesday, May 10th. Finally, Royal Bank of Canada lowered their price target on shares of Nikola from $11.00 to $8.00 and set a sector perform rating on the stock in a report on Friday, February 25th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Nikola has a consensus rating of Hold and an average price target of $11.25.

Shares of NKLA stock opened at $5.67 on Monday. Nikola has a 1 year low of $4.82 and a 1 year high of $19.44. The firm’s fifty day simple moving average is $6.56 and its 200 day simple moving average is $8.07. The firm has a market capitalization of $2.39 billion, a P/E ratio of -3.15 and a beta of 1.07. The company has a current ratio of 2.28, a quick ratio of 2.14 and a debt-to-equity ratio of 0.04.

Nikola (NASDAQ:NKLAGet Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.16. The company had revenue of $1.90 million for the quarter, compared to the consensus estimate of $0.13 million. During the same period last year, the firm posted ($0.31) EPS. The company’s revenue was up 1899900.0% compared to the same quarter last year. Equities research analysts anticipate that Nikola will post -1.75 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. WASHINGTON TRUST Co acquired a new stake in shares of Nikola in the 4th quarter valued at $26,000. Quantbot Technologies LP acquired a new position in Nikola during the 1st quarter worth about $29,000. Captrust Financial Advisors lifted its position in Nikola by 97.2% during the 1st quarter. Captrust Financial Advisors now owns 4,657 shares of the company’s stock worth $50,000 after buying an additional 2,296 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Nikola by 218.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,300 shares of the company’s stock worth $67,000 after buying an additional 4,320 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its position in Nikola by 22.4% during the 3rd quarter. Point72 Hong Kong Ltd now owns 7,164 shares of the company’s stock worth $76,000 after buying an additional 1,313 shares in the last quarter. Institutional investors own 48.29% of the company’s stock.

Nikola Company Profile (Get Rating)

Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector.

Further Reading

Analyst Recommendations for Nikola (NASDAQ:NKLA)

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