Nikola Co. (NASDAQ:NKLA) Director Mark A. Russell Sells 75,000 Shares

Nikola Co. (NASDAQ:NKLAGet Rating) Director Mark A. Russell sold 75,000 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $2.95, for a total transaction of $221,250.00. Following the completion of the sale, the director now owns 2,812,346 shares in the company, valued at approximately $8,296,420.70. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Nikola Trading Down 4.5 %

NKLA opened at $2.74 on Friday. Nikola Co. has a fifty-two week low of $2.52 and a fifty-two week high of $12.20. The company’s 50-day moving average price is $3.50 and its 200 day moving average price is $5.15. The company has a current ratio of 1.75, a quick ratio of 1.46 and a debt-to-equity ratio of 0.50.

Nikola (NASDAQ:NKLAGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.02. The firm had revenue of $24.24 million during the quarter, compared to analyst estimates of $22.81 million. Equities research analysts predict that Nikola Co. will post -1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wedbush cut their target price on shares of Nikola from $10.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, November 4th. Cowen cut their target price on shares of Nikola from $12.50 to $10.00 in a research note on Friday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Nikola from $7.00 to $8.00 in a research note on Friday, August 5th. Cowen cut their target price on shares of Nikola from $12.50 to $10.00 in a research note on Friday, November 4th. Finally, BTIG Research upgraded shares of Nikola from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Wednesday, September 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.25.

Hedge Funds Weigh In On Nikola

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKLA. Quantbot Technologies LP acquired a new stake in shares of Nikola during the 1st quarter valued at $29,000. Captrust Financial Advisors raised its holdings in Nikola by 97.2% in the 1st quarter. Captrust Financial Advisors now owns 4,657 shares of the company’s stock worth $50,000 after acquiring an additional 2,296 shares during the period. Castleview Partners LLC raised its holdings in Nikola by 376.0% in the 2nd quarter. Castleview Partners LLC now owns 4,760 shares of the company’s stock worth $1,000,000 after acquiring an additional 3,760 shares during the period. Nisa Investment Advisors LLC raised its holdings in Nikola by 218.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,300 shares of the company’s stock worth $67,000 after acquiring an additional 4,320 shares during the period. Finally, Financial Advocates Investment Management bought a new position in Nikola in the 3rd quarter worth $336,000. Institutional investors and hedge funds own 23.34% of the company’s stock.

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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