Mark A. Russell Sells 75,000 Shares of Nikola Co. (NASDAQ:NKLA) Stock

Nikola Co. (NASDAQ:NKLAGet Rating) Director Mark A. Russell sold 75,000 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $2.57, for a total value of $192,750.00. Following the sale, the director now directly owns 2,812,346 shares in the company, valued at approximately $7,227,729.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Nikola Trading Up 3.5 %

NASDAQ:NKLA opened at $2.38 on Friday. The business’s fifty day moving average price is $3.27 and its 200 day moving average price is $5.02. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.75 and a quick ratio of 1.46. Nikola Co. has a 12 month low of $2.27 and a 12 month high of $12.14.

Nikola (NASDAQ:NKLAGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.02. The business had revenue of $24.24 million during the quarter, compared to analysts’ expectations of $22.81 million. Analysts anticipate that Nikola Co. will post -1.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NKLA has been the topic of a number of recent research reports. Cowen cut their price objective on Nikola from $12.50 to $10.00 in a research report on Friday, November 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Nikola from $7.00 to $8.00 in a research report on Friday, August 5th. Wedbush cut their price objective on Nikola from $10.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, November 4th. Cowen dropped their target price on Nikola from $12.50 to $10.00 in a report on Friday, November 4th. Finally, BTIG Research raised Nikola from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, September 14th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Nikola has a consensus rating of “Hold” and a consensus target price of $9.25.

Hedge Funds Weigh In On Nikola

Several hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Nikola by 30.2% during the second quarter. Nisa Investment Advisors LLC now owns 8,200 shares of the company’s stock worth $39,000 after purchasing an additional 1,900 shares during the last quarter. Independent Advisor Alliance grew its holdings in shares of Nikola by 15.8% during the first quarter. Independent Advisor Alliance now owns 14,904 shares of the company’s stock worth $160,000 after purchasing an additional 2,030 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Nikola by 7.0% during the first quarter. Teacher Retirement System of Texas now owns 33,390 shares of the company’s stock worth $358,000 after purchasing an additional 2,186 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Nikola by 97.2% during the first quarter. Captrust Financial Advisors now owns 4,657 shares of the company’s stock worth $50,000 after purchasing an additional 2,296 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its holdings in shares of Nikola by 2.6% during the first quarter. Advisor Group Holdings Inc. now owns 100,593 shares of the company’s stock worth $1,071,000 after purchasing an additional 2,571 shares during the last quarter. Hedge funds and other institutional investors own 23.34% of the company’s stock.

About Nikola

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Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector.

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