Nikola (NASDAQ:NKLA) Sees Unusually-High Trading Volume

Nikola Co. (NASDAQ:NKLA) saw unusually-strong trading volume on Friday . Approximately 57,710,510 shares changed hands during trading, an increase of 20% from the previous session’s volume of 47,941,730 shares.The stock last traded at $1.27 and had previously closed at $1.15.

Analysts Set New Price Targets

Separately, DA Davidson upped their target price on shares of Nikola from $1.00 to $3.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Nikola currently has a consensus rating of “Hold” and an average price target of $4.50.

Nikola Stock Performance

The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. The company’s fifty day moving average is $1.81 and its 200 day moving average is $1.38. The company has a market cap of $939.25 million, a P/E ratio of -0.78 and a beta of 2.01.

Nikola (NASDAQ:NKLA) last issued its quarterly earnings results on Friday, August 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. The company had revenue of $15.36 million during the quarter, compared to analyst estimates of $14.68 million. Nikola had a negative net margin of 1,475.52% and a negative return on equity of 146.64%. As a group, equities analysts predict that Nikola Co. will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nikola news, CFO Anastasiya Pasterick sold 15,726 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $1.96, for a total transaction of $30,822.96. Following the completion of the sale, the chief financial officer now directly owns 174,486 shares in the company, valued at approximately $341,992.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Anastasiya Pasterick sold 15,726 shares of Nikola stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $1.96, for a total value of $30,822.96. Following the completion of the sale, the chief financial officer now directly owns 174,486 shares in the company, valued at $341,992.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Lohscheller sold 68,985 shares of Nikola stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $1.96, for a total transaction of $135,210.60. Following the completion of the sale, the director now owns 780,199 shares of the company’s stock, valued at $1,529,190.04. The disclosure for this sale can be found here. Insiders sold a total of 95,137 shares of company stock worth $180,833 in the last three months. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Nikola

A number of large investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in shares of Nikola in the fourth quarter worth approximately $25,000. Oxinas Partners Wealth Management LLC purchased a new position in shares of Nikola in the second quarter worth approximately $28,000. Quantbot Technologies LP purchased a new position in shares of Nikola in the first quarter worth approximately $29,000. Merit Financial Group LLC purchased a new position in shares of Nikola in the second quarter worth approximately $30,000. Finally, United Asset Strategies Inc. purchased a new position in shares of Nikola in the second quarter worth approximately $32,000. 24.17% of the stock is currently owned by institutional investors.

Nikola Company Profile

Nikola Corporation operates as a technology innovator and integrator that develops energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) to the trucking sector.