Nikola (NASDAQ:NKLA) Stock Price Down 0.1%

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

Wall Street Analysts Forecast Growth

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

Nikola Price Performance

The firm has a 50-day simple moving average of $0.75 and a 200-day simple moving average of $0.85. The firm has a market cap of $829.28 million, a P/E ratio of -0.50 and a beta of 1.99. 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 issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $11.53 million during the quarter, compared to analysts’ expectations of $14.52 million. During the same period in the previous year, the firm earned ($0.46) EPS. As a group, analysts forecast that Nikola Co. will post -0.44 EPS for the current year.

Insider Activity

In related news, insider Joseph R. Pike sold 75,162 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $292,257.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 10.00% of the company’s stock.

Institutional Trading of Nikola

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capital Wealth Alliance LLC acquired a new stake in Nikola during the 3rd quarter worth about $25,000. Silicon Valley Capital Partners acquired a new position in shares of Nikola in the 3rd quarter valued at $30,000. Marathon Trading Investment Management LLC acquired a new position in shares of Nikola in the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC boosted its holdings in Nikola by 162.1% during the fourth 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 in the last quarter. Finally, Rathbones Group PLC acquired a new stake in Nikola during the third quarter valued at $46,000. 37.38% of the stock is currently owned by institutional investors and hedge funds.

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.