Nikola Co. (NASDAQ:NKLA – Get Free Report) traded down 3.7% on Friday . The company traded as low as $8.02 and last traded at $8.23. 1,685,329 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 3,107,967 shares. The stock had previously closed at $8.55.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. DA Davidson reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Nikola in a research note on Wednesday, June 12th. Wolfe Research assumed coverage on Nikola in a research note on Tuesday, April 9th. They issued a “peer perform” rating for the company. Finally, Bryan, Garnier & Co assumed coverage on Nikola in a research note on Thursday, May 16th. They issued a “buy” rating and a $30.00 price objective for the company.
View Our Latest Stock Report on NKLA
Nikola Price Performance
Nikola (NASDAQ:NKLA – Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($3.00) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($3.00). The company had revenue of $7.50 million during the quarter, compared to the consensus estimate of $15.05 million.
Insider Transactions at Nikola
In other Nikola news, CEO Stephen J. Girsky purchased 33,333 shares of Nikola stock in a transaction dated Monday, May 20th. The shares were purchased at an average cost of $16.20 per share, for a total transaction of $539,994.60. Following the completion of the acquisition, the chief executive officer now owns 241,433 shares in the company, valued at approximately $3,911,214.60. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.74% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of NKLA. Norges Bank purchased a new position in Nikola during the 4th quarter worth $93,633,000. Vanguard Group Inc. increased 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 purchasing an additional 12,085,830 shares during the period. Van ECK Associates Corp increased its holdings in Nikola by 65.4% during the 1st quarter. Van ECK Associates Corp now owns 10,695,472 shares of the company’s stock worth $11,123,000 after purchasing an additional 4,229,114 shares during the period. SG Americas Securities LLC increased its holdings in Nikola by 90.3% during the 1st quarter. SG Americas Securities LLC now owns 3,812,396 shares of the company’s stock worth $3,965,000 after purchasing an additional 1,809,074 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Nikola by 43.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,242,060 shares of the company’s stock worth $8,230,000 after purchasing an additional 1,577,112 shares during the period. 37.38% of the stock is currently owned by hedge funds and other institutional investors.
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.
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