Nikola (NASDAQ:NKLA) Shares Down 0.1%

Nikola Co. (NASDAQ:NKLA)’s stock price was down 0.1% during trading on Wednesday . The stock traded as low as $0.63 and last traded at $0.63. Approximately 34,568,640 shares traded hands during trading, a decline of 64% from the average daily volume of 96,118,484 shares. The stock had previously closed at $0.64.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NKLA shares. DA Davidson reissued a “neutral” rating and set a $1.00 price target on shares of Nikola in a research note on Tuesday, March 5th. Robert W. Baird started coverage on Nikola in a research note on Wednesday, January 24th. They set an “outperform” rating and a $2.00 price target on the stock. Finally, Wolfe Research assumed coverage on Nikola in a research note on Tuesday, April 9th. They set a “peer perform” rating on the stock.

Nikola Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.96 and a current ratio of 2.20. The company has a 50-day moving average of $0.75 and a 200-day moving average of $0.85.

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 the consensus estimate of ($0.17) by $0.05. The company had revenue of $11.53 million for the quarter, compared to analyst estimates of $14.52 million. During the same quarter in the prior year, the firm earned ($0.46) earnings per share. On average, analysts forecast that Nikola Co. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Nikola

In other Nikola 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 value of $51,110.16. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NKLA. Capital Wealth Alliance LLC purchased a new stake in Nikola during the 3rd quarter worth $25,000. Silicon Valley Capital Partners purchased a new stake in Nikola during the 3rd quarter worth $30,000. Marathon Trading Investment Management LLC purchased a new position in Nikola in the 3rd quarter valued at about $33,000. Tower Research Capital LLC TRC boosted its position in Nikola by 162.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock valued at $43,000 after buying an additional 30,490 shares during the last quarter. Finally, Rathbones Group PLC purchased a new position in Nikola in the 3rd quarter valued at about $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.