Nikola (NASDAQ:NKLA) Releases Earnings Results, Beats Estimates By $0.11 EPS

Nikola (NASDAQ:NKLA) announced its earnings results on Friday. The company reported ($2.67) EPS for the quarter, beating analysts’ consensus estimates of ($2.78) by $0.11, Briefing.com reports. The business had revenue of $31.10 million during the quarter, compared to analyst estimates of $26.19 million. The business’s revenue was up 101.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($7.21) earnings per share.

Nikola Trading Up 8.2 %

Shares of NASDAQ NKLA traded up $0.64 on Friday, reaching $8.44. 7,670,632 shares of the company traded hands, compared to its average volume of 3,279,221. Nikola has a fifty-two week low of $7.02 and a fifty-two week high of $65.10. The company has a 50 day moving average of $10.62 and a 200 day moving average of $17.24. The company has a current ratio of 1.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $381.23 million, a PE ratio of -0.27 and a beta of 2.09.

Wall Street Analysts Forecast Growth

NKLA has been the topic of several research analyst reports. Bryan, Garnier & Co began coverage on shares of Nikola in a research report on Thursday, May 16th. They set a “buy” rating and a $30.00 target price on the stock. DA Davidson restated a “neutral” rating and issued a $30.00 target price on shares of Nikola in a report on Wednesday, June 12th.

Insider Activity

In other news, CEO Stephen J. Girsky sold 4,636 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $7.75, for a total transaction of $35,929.00. Following the completion of the transaction, the chief executive officer now owns 238,311 shares of the company’s stock, valued at approximately $1,846,910.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Nikola news, CEO Stephen J. Girsky bought 33,333 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average price of $16.20 per share, with a total value of $539,994.60. Following the transaction, the chief executive officer now owns 241,433 shares in the company, valued at $3,911,214.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Stephen J. Girsky sold 4,636 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $7.75, for a total transaction of $35,929.00. Following the sale, the chief executive officer now directly owns 238,311 shares of the company’s stock, valued at approximately $1,846,910.25. The disclosure for this sale can be found here. Corporate insiders own 0.74% 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.