Nikola (NASDAQ:NKLA) Stock Price Up 1%

Nikola Co. (NASDAQ:NKLA)’s stock price traded up 1% on Monday . The stock traded as high as $0.72 and last traded at $0.71. 43,086,543 shares were traded during trading, a decline of 56% from the average session volume of 98,912,125 shares. The stock had previously closed at $0.70.

Analyst Ratings Changes

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

Nikola Trading Up 1.8 %

The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $0.76 and a 200 day simple moving average of $0.88.

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 the consensus estimate 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 period in the prior year, the firm earned ($0.46) earnings per share. Equities analysts forecast that Nikola Co. will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Joseph R. Pike sold 75,162 shares of Nikola stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $0.68, for a total value of $51,110.16. Following the transaction, the insider now owns 429,790 shares in the company, valued at approximately $292,257.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Nikola

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Nikola by 36.0% during the 4th quarter. Vanguard Group Inc. now owns 77,145,785 shares of the company’s stock worth $67,487,000 after acquiring an additional 20,439,596 shares during the last quarter. Krane Funds Advisors LLC lifted its holdings in Nikola by 7.4% during the 4th quarter. Krane Funds Advisors LLC now owns 419,671 shares of the company’s stock worth $367,000 after buying an additional 29,016 shares during the period. Legal & General Group Plc lifted its holdings in Nikola by 68.5% during the 4th quarter. Legal & General Group Plc now owns 880,487 shares of the company’s stock worth $770,000 after buying an additional 357,819 shares during the period. Wexford Capital LP acquired a new position in Nikola during the 4th quarter worth about $25,000. Finally, Bayesian Capital Management LP acquired a new position in Nikola during the 4th quarter worth about $142,000. Institutional investors 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.