Nikola (NASDAQ:NKLA) Trading 1.4% Higher

Shares of Nikola Co. (NASDAQ:NKLA) traded up 1.4% during trading on Thursday . The stock traded as high as $8.97 and last traded at $8.15. 4,739,140 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 3,808,859 shares. The stock had previously closed at $8.04.

Analyst Upgrades and Downgrades

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

Nikola Trading Up 1.4 %

The stock has a market capitalization of $368.14 million, a price-to-earnings ratio of -0.26 and a beta of 2.09. The company’s 50 day moving average is $14.90 and its 200 day moving average is $19.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.50 and a current ratio of 1.73.

Nikola (NASDAQ:NKLA) last released its earnings results on Tuesday, May 7th. The company reported ($3.00) EPS for the quarter, meeting the consensus estimate of ($3.00). The company had revenue of $7.50 million for the quarter, compared to analyst estimates of $15.05 million.

Insider Activity

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

Institutional Investors Weigh In On Nikola

Hedge funds have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC acquired a new position in Nikola during the 1st quarter valued at about $43,000. Tower Research Capital LLC TRC lifted its position in Nikola by 162.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock valued at $43,000 after purchasing an additional 30,490 shares during the period. Seaview Investment Managers LLC lifted its position in Nikola by 78.3% during the 4th quarter. Seaview Investment Managers LLC now owns 68,333 shares of the company’s stock valued at $60,000 after purchasing an additional 30,000 shares during the period. Cantor Fitzgerald L. P. lifted its position in Nikola by 817.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 93,244 shares of the company’s stock valued at $82,000 after purchasing an additional 83,081 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Nikola by 55.7% during the 4th quarter. Victory Capital Management Inc. now owns 123,022 shares of the company’s stock valued at $108,000 after purchasing an additional 43,985 shares during the period. Institutional investors own 37.38% 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.