Nikola (NASDAQ:NKLA) Stock Price Down 0.1%

Nikola Co. (NASDAQ:NKLA) dropped 0.1% during mid-day trading on Wednesday . The company traded as low as $0.63 and last traded at $0.63. Approximately 34,568,640 shares traded hands during trading, a decline of 64% from the average daily volume of 96,118,484 shares. The stock had previously closed at $0.64.

Analyst Ratings Changes

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

Nikola Trading Down 2.3 %

The firm’s 50-day simple moving average is $0.75 and its 200-day simple moving average is $0.85. The firm has a market capitalization of $829.28 million, a P/E ratio of -0.50 and a beta of 1.99. The company has a quick ratio of 1.96, a current ratio of 2.20 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, beating analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $11.53 million for the quarter, compared to analysts’ expectations of $14.52 million. During the same quarter in the previous year, the business earned ($0.46) EPS. Analysts anticipate 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 firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $0.68, for a total transaction of $51,110.16. Following the transaction, the insider now directly owns 429,790 shares of the company’s stock, valued at $292,257.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Institutional Trading of Nikola

A number of institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. boosted its position in shares of Nikola by 7.3% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 159,347 shares of the company’s stock worth $250,000 after purchasing an additional 10,808 shares in the last quarter. Amalgamated Bank boosted its holdings in Nikola by 30.4% in the third quarter. Amalgamated Bank now owns 62,140 shares of the company’s stock worth $98,000 after acquiring an additional 14,495 shares in the last quarter. Capital Wealth Alliance LLC purchased a new stake in shares of Nikola in the third quarter worth $25,000. Victory Capital Management Inc. increased its holdings in shares of Nikola by 30.0% during the third quarter. Victory Capital Management Inc. now owns 79,037 shares of the company’s stock valued at $124,000 after acquiring an additional 18,241 shares in the last quarter. Finally, Silicon Valley Capital Partners purchased a new position in shares of Nikola in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 37.38% of the company’s stock.

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.