Nikola Co. (NASDAQ:NKLA – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $1.04, but opened at $1.01. Nikola shares last traded at $1.02, with a volume of 7,189,506 shares trading hands.
Wall Street Analyst Weigh In
Separately, DA Davidson raised their price objective on Nikola from $1.00 to $3.00 and gave the company a “neutral” rating in a research note on Monday, July 31st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Nikola currently has a consensus rating of “Hold” and a consensus price target of $3.33.
Nikola Stock Performance
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in shares of Nikola in the 1st quarter valued at $29,000. Captrust Financial Advisors boosted its position in shares of 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 purchasing an additional 2,296 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Nikola in the 4th quarter worth $25,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Nikola in the 1st quarter worth $134,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Nikola by 577.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,302 shares of the company’s stock worth $163,000 after purchasing an additional 13,044 shares in the last quarter. 24.17% of the stock is currently owned by hedge funds and other 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.
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