Nikola (NASDAQ:NKLA) Trading Down 1.4%

Shares of Nikola Co. (NASDAQ:NKLA) dropped 1.4% during trading on Monday . The stock traded as low as $0.63 and last traded at $0.64. Approximately 26,940,815 shares traded hands during trading, a decline of 72% from the average daily volume of 97,047,820 shares. The stock had previously closed at $0.64.

Analyst Upgrades and Downgrades

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

Nikola Price Performance

The company has a 50-day moving average price of $0.75 and a 200-day moving average price of $0.85. 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 results on Thursday, February 22nd. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $11.53 million for the quarter, compared to analyst estimates of $14.52 million. During the same period last year, the company earned ($0.46) EPS. Equities analysts forecast that Nikola Co. will post -0.44 EPS for the current 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 transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NKLA. Norges Bank purchased a new position in Nikola during the 4th quarter valued at about $93,633,000. Vanguard Group Inc. boosted its stake in shares of 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 period. Van ECK Associates Corp grew its holdings in Nikola by 47.5% in the 4th quarter. Van ECK Associates Corp now owns 6,466,358 shares of the company’s stock worth $5,657,000 after acquiring an additional 2,083,089 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 purchasing an additional 1,577,112 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Nikola by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,588,507 shares of the company’s stock worth $7,204,000 after buying an additional 1,199,365 shares during the last quarter. 37.38% of the stock is owned by institutional investors.

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.