Nikola (NASDAQ:NKLA) Trading Up 2%

Nikola Co. (NASDAQ:NKLA)’s stock price was up 2% during trading on Monday . The stock traded as high as $0.37 and last traded at $0.36. Approximately 35,031,164 shares traded hands during trading, a decline of 62% from the average daily volume of 91,104,273 shares. The stock had previously closed at $0.36.

Analyst Ratings Changes

Several equities analysts recently commented on NKLA shares. Wolfe Research started coverage on shares of Nikola in a research note on Tuesday, April 9th. They set a “peer perform” rating for the company. Bryan, Garnier & Co assumed coverage on shares of Nikola in a research note on Thursday, May 16th. They set a “buy” rating and a $30.00 target price for the company. Finally, DA Davidson restated a “neutral” rating and issued a $30.00 price objective on shares of Nikola in a research note on Wednesday, June 12th.

Nikola Trading Up 5.9 %

The business’s 50 day moving average price is $16.20 and its 200-day moving average price is $20.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.50 and a current ratio of 1.73. The company has a market cap of $448.09 million, a price-to-earnings ratio of -0.33 and a beta of 2.11.

Nikola (NASDAQ:NKLA) last posted its earnings results on Tuesday, May 7th. The company reported ($3.00) earnings per share for the quarter, hitting the consensus estimate of ($3.00). The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $15.05 million.

Insider Activity

In other Nikola news, CEO Stephen J. Girsky bought 33,333 shares of Nikola stock in a transaction dated Monday, May 20th. The shares were bought at an average price of $16.20 per share, with a total value of $539,994.60. Following the purchase, the chief executive officer now owns 241,433 shares of the company’s stock, valued at $3,911,214.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.74% of the company’s stock.

Institutional Trading of Nikola

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Nikola by 28.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,754,602 shares of the company’s stock valued at $5,909,000 after acquiring an additional 1,512,542 shares during the period. Victory Capital Management Inc. raised its position in shares of Nikola by 55.7% in the 4th quarter. Victory Capital Management Inc. now owns 123,022 shares of the company’s stock valued at $108,000 after acquiring an additional 43,985 shares during the period. Norges Bank acquired a new stake in Nikola during the 4th quarter worth approximately $93,633,000. Capstone Investment Advisors LLC raised its holdings in Nikola by 368.1% during 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 period. Finally, Vanguard Group Inc. raised its holdings in Nikola by 27.1% during the 3rd quarter. Vanguard Group Inc. now owns 56,706,189 shares of the company’s stock worth $89,029,000 after buying an additional 12,085,830 shares during the period. 37.38% of the stock is currently owned by institutional investors and hedge funds.

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.