Nikola (NASDAQ:NKLA) Trading 0.1% Higher

Shares of Nikola Co. (NASDAQ:NKLA) shot up 0.1% during trading on Thursday . The stock 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.

Wall Street Analysts Forecast Growth

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

Nikola Price Performance

The stock’s fifty day moving average price is $0.74 and its two-hundred day moving average price is $0.82. The firm has a market capitalization of $891.69 million, a price-to-earnings ratio of -0.52 and a beta of 2.10. 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 announced its quarterly earnings data 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 firm 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. Equities research analysts expect that Nikola Co. will post -0.44 EPS for the current year.

Insider Activity at Nikola

In related news, insider Joseph R. Pike sold 75,162 shares of the stock in a transaction 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 transaction, the insider now directly owns 429,790 shares of the company’s stock, valued at approximately $292,257.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.00% of the company’s stock.

Institutional Trading of Nikola

A number of large investors have recently bought and sold shares of NKLA. Bank of New York Mellon Corp lifted its stake in shares of Nikola by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,109,543 shares of the company’s stock worth $3,312,000 after acquiring an additional 96,196 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nikola by 39.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 594,018 shares of the company’s stock valued at $933,000 after purchasing an additional 168,513 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Nikola by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,588,507 shares of the company’s stock valued at $7,204,000 after purchasing an additional 1,199,365 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Nikola by 45.0% in the third quarter. Principal Financial Group Inc. now owns 91,453 shares of the company’s stock valued at $144,000 after purchasing an additional 28,401 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of Nikola in the third quarter valued at about $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.