Nikola Target of Unusually High Options Trading (NASDAQ:NKLA)

Nikola Co. (NASDAQ:NKLAGet Rating) was the target of some unusual options trading activity on Monday. Traders purchased 94,916 call options on the stock. This is an increase of 62% compared to the average volume of 58,751 call options.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Evercore ISI set a $10.00 price objective on shares of Nikola in a report on Monday, June 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nikola from $11.00 to $7.00 in a report on Monday, July 18th. Finally, Wedbush decreased their price objective on shares of Nikola from $15.00 to $10.00 in a report on Tuesday, May 10th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.75.

Institutional Investors Weigh In On Nikola

Hedge funds and other institutional investors have recently bought and sold shares of the company. WASHINGTON TRUST Co acquired a new stake in Nikola during the fourth quarter worth about $26,000. Quantbot Technologies LP acquired a new stake in shares of Nikola during the first quarter valued at about $29,000. Captrust Financial Advisors increased its position in shares of Nikola by 97.2% during the first quarter. Captrust Financial Advisors now owns 4,657 shares of the company’s stock valued at $50,000 after acquiring an additional 2,296 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Nikola by 218.2% during the first quarter. Nisa Investment Advisors LLC now owns 6,300 shares of the company’s stock valued at $67,000 after acquiring an additional 4,320 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Nikola by 125.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,898 shares of the company’s stock valued at $88,000 after acquiring an additional 4,959 shares during the last quarter. 48.29% of the stock is currently owned by institutional investors and hedge funds.

Nikola Price Performance

Nikola stock opened at $6.96 on Wednesday. Nikola has a 12-month low of $4.41 and a 12-month high of $15.56. The stock has a market cap of $2.93 billion, a P/E ratio of -3.87 and a beta of 1.35. The company has a 50-day moving average price of $5.84 and a 200 day moving average price of $7.17. The company has a current ratio of 2.28, a quick ratio of 2.14 and a debt-to-equity ratio of 0.04.

Nikola (NASDAQ:NKLAGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.07. The firm had revenue of $1.90 million for the quarter, compared to analyst estimates of $0.13 million. During the same quarter in the previous year, the business posted ($0.31) earnings per share. Nikola’s revenue for the quarter was up 1899900.0% on a year-over-year basis. Sell-side analysts anticipate that Nikola will post -1.76 earnings per share for the current year.

About Nikola

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Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector.

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