DA Davidson Reiterates Neutral Rating for Nikola (NASDAQ:NKLA)

DA Davidson reiterated their neutral rating on shares of Nikola (NASDAQ:NKLA) in a report released on Wednesday, Benzinga reports. The brokerage currently has a $1.00 price objective on the stock.

Several other equities analysts also recently weighed in on the stock. Wolfe Research initiated coverage on shares of Nikola in a report on Tuesday, April 9th. They set a peer perform rating on the stock. Bryan, Garnier & Co started coverage on shares of Nikola in a research note on Thursday, May 16th. They set a buy rating and a $1.00 target price on the stock.

Nikola Trading Up 2.8 %

Nikola stock opened at $0.51 on Wednesday. Nikola has a one year low of $0.49 and a one year high of $3.71. The business’s fifty day moving average is $0.60 and its 200 day moving average is $0.71. The stock has a market capitalization of $687.64 million, a PE ratio of -0.48 and a beta of 2.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.50.

Nikola (NASDAQ:NKLA) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $15.05 million. On average, sell-side analysts predict that Nikola will post -0.39 EPS for the current year.

Insider Activity at Nikola

In other Nikola news, CEO Stephen J. Girsky acquired 1,000,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average cost of $0.54 per share, with a total value of $540,000.00. Following the completion of the purchase, the chief executive officer now directly owns 7,243,005 shares in the company, valued at $3,911,222.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is owned by company insiders.

Institutional Trading of Nikola

Several hedge funds and other institutional investors have recently made changes to their positions in NKLA. Itau Unibanco Holding S.A. increased its holdings in shares of Nikola by 7.3% during the third quarter. Itau Unibanco Holding S.A. now owns 159,347 shares of the company’s stock valued at $250,000 after acquiring an additional 10,808 shares in the last quarter. Amalgamated Bank increased its stake in Nikola by 30.4% during the 3rd quarter. Amalgamated Bank now owns 62,140 shares of the company’s stock valued at $98,000 after purchasing an additional 14,495 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Nikola by 30.0% in the third quarter. Victory Capital Management Inc. now owns 79,037 shares of the company’s stock worth $124,000 after buying an additional 18,241 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new stake in shares of Nikola during the third quarter worth $33,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Nikola by 45.0% during the third quarter. Principal Financial Group Inc. now owns 91,453 shares of the company’s stock valued at $144,000 after buying an additional 28,401 shares during the last quarter. Hedge funds and other 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.