Nikola (NASDAQ:NKLA) Shares Down 2.4%

Nikola Co. (NASDAQ:NKLA)’s share price was down 2.4% during trading on Thursday . The stock traded as low as $0.60 and last traded at $0.61. Approximately 22,470,007 shares were traded during trading, a decline of 77% from the average daily volume of 95,796,180 shares. The stock had previously closed at $0.62.

Analyst Upgrades and Downgrades

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

Nikola Trading Up 7.2 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.96. The company has a fifty day simple moving average of $0.75 and a two-hundred day simple moving average of $0.84.

Nikola (NASDAQ:NKLA) last posted its earnings results 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 firm had revenue of $11.53 million during the quarter, compared to analyst estimates of $14.52 million. During the same period last year, the company posted ($0.46) EPS. Equities analysts predict that Nikola Co. will post -0.44 EPS for the current year.

Insider Buying and Selling at Nikola

In other Nikola news, insider Joseph R. Pike sold 75,162 shares of the company’s 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 sale, the insider now owns 429,790 shares of the company’s stock, valued at $292,257.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Nikola

A number of large investors have recently made changes to their positions in the stock. Krane Funds Advisors LLC boosted its stake in shares of Nikola by 7.4% during the fourth quarter. Krane Funds Advisors LLC now owns 419,671 shares of the company’s stock valued at $367,000 after acquiring an additional 29,016 shares during the last quarter. Cantor Fitzgerald L. P. boosted its stake in Nikola by 817.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 93,244 shares of the company’s stock worth $82,000 after buying an additional 83,081 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Nikola by 162.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock worth $43,000 after buying an additional 30,490 shares during the last quarter. Capstone Investment Advisors LLC boosted its stake in Nikola by 368.1% in the 4th quarter. Capstone Investment Advisors LLC now owns 241,294 shares of the company’s stock worth $211,000 after buying an additional 189,751 shares during the last quarter. Finally, Norges Bank acquired a new stake in Nikola in the 4th quarter worth about $93,633,000. Institutional investors and hedge funds 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.