J.W. Cole Advisors Inc. Acquires Shares of 14,530 Nikola Co. (NASDAQ:NKLA)

J.W. Cole Advisors Inc. acquired a new stake in Nikola Co. (NASDAQ:NKLAGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,530 shares of the company’s stock, valued at approximately $91,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nikola by 1.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,941 shares of the company’s stock valued at $1,135,000 after acquiring an additional 1,749 shares during the period. Independent Advisor Alliance grew its stake in Nikola by 15.8% in the first quarter. Independent Advisor Alliance now owns 14,904 shares of the company’s stock valued at $160,000 after acquiring an additional 2,030 shares during the period. Teacher Retirement System of Texas grew its stake in Nikola by 7.0% in the first quarter. Teacher Retirement System of Texas now owns 33,390 shares of the company’s stock valued at $358,000 after acquiring an additional 2,186 shares during the period. Captrust Financial Advisors grew its stake in Nikola by 97.2% in 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 period. Finally, Advisor Group Holdings Inc. grew its stake in Nikola by 2.6% in the first quarter. Advisor Group Holdings Inc. now owns 100,593 shares of the company’s stock valued at $1,071,000 after acquiring an additional 2,571 shares during the period. Institutional investors and hedge funds own 23.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NKLA. BTIG Research raised Nikola from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Wednesday, September 14th. Cowen cut their target price on Nikola to $12.50 in a research report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Nikola from $7.00 to $8.00 in a research report on Friday, August 5th. Finally, Evercore ISI set a $10.00 target price on Nikola in a research report on Monday, June 20th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Nikola has a consensus rating of “Hold” and a consensus target price of $10.83.

Nikola Stock Down 6.8 %

NKLA stock opened at $4.08 on Friday. The stock’s fifty day simple moving average is $5.93 and its two-hundred day simple moving average is $6.68. The company has a current ratio of 2.15, a quick ratio of 1.95 and a debt-to-equity ratio of 0.46. Nikola Co. has a 1-year low of $3.95 and a 1-year high of $15.56. The stock has a market cap of $1.77 billion, a P/E ratio of -2.21 and a beta of 1.39.

Nikola (NASDAQ:NKLAGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.04. The business had revenue of $18.10 million during the quarter, compared to analysts’ expectations of $16.58 million. During the same period in the prior year, the firm posted ($0.36) EPS. The firm’s revenue for the quarter was up 1710.0% on a year-over-year basis. Analysts expect that Nikola Co. will post -1.89 EPS for the current year.

Insider Buying and Selling at Nikola

In other news, major shareholder Trevor R. Milton bought 3,000,000 shares of the stock in a transaction on Wednesday, August 24th. The shares were purchased at an average cost of $5.80 per share, for a total transaction of $17,400,000.00. Following the completion of the purchase, the insider now directly owns 51,047,726 shares in the company, valued at approximately $296,076,810.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Trevor R. Milton bought 3,000,000 shares of the stock in a transaction on Wednesday, August 24th. The shares were purchased at an average cost of $5.80 per share, for a total transaction of $17,400,000.00. Following the completion of the purchase, the insider now directly owns 51,047,726 shares in the company, valued at approximately $296,076,810.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark A. Russell sold 75,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $4.57, for a total value of $342,750.00. Following the completion of the sale, the chief executive officer now owns 2,812,346 shares in the company, valued at $12,852,421.22. The disclosure for this sale can be found here. Insiders have sold a total of 226,120 shares of company stock worth $1,141,951 over the last ninety days. 18.30% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Nikola (NASDAQ:NKLA)

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