Nikola (NASDAQ:NKLA) Shares Gap Up to $0.91

Shares of Nikola Co. (NASDAQ:NKLAGet Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $0.91, but opened at $0.96. Nikola shares last traded at $0.94, with a volume of 27,639,651 shares.

Analyst Upgrades and Downgrades

NKLA has been the topic of several research analyst reports. Robert W. Baird initiated coverage on Nikola in a report on Wednesday, January 24th. They set an “outperform” rating and a $2.00 target price on the stock. DA Davidson reiterated a “neutral” rating and issued a $1.00 price target on shares of Nikola in a report on Tuesday, March 5th.

Check Out Our Latest Stock Analysis on Nikola

Nikola Trading Up 14.4 %

The firm has a fifty day moving average of $0.72 and a 200-day moving average of $0.92. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.37.

Nikola (NASDAQ:NKLAGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. Nikola had a negative return on equity of 122.20% and a negative net margin of 1,475.52%. The business had revenue of $11.53 million for the quarter, compared to analysts’ expectations of $14.52 million. During the same quarter last year, the business earned ($0.46) earnings per share. As a group, equities analysts predict that Nikola Co. will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Nikola

In other news, insider Joseph R. Pike sold 75,162 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $0.68, for a total transaction of $51,110.16. Following the sale, the insider now owns 429,790 shares of the company’s stock, valued at $292,257.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Nikola

A number of hedge funds and other institutional investors have recently bought and sold shares of NKLA. Capital Wealth Alliance LLC acquired a new stake in Nikola in the 3rd quarter valued at approximately $25,000. Marshall Wace LLP bought a new position in Nikola in the fourth quarter valued at approximately $25,000. Wexford Capital LP bought a new position in Nikola in the fourth quarter valued at approximately $25,000. Banque Pictet & Cie SA bought a new position in Nikola in the third quarter valued at approximately $27,000. Finally, Quantbot Technologies LP bought a new position in Nikola in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 37.38% of the company’s stock.

Nikola Company Profile

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Nikola Corporation operates as a technology innovator and integrator that develops energy and transportation solutions in the United States and internationally. The company operates in truck and energy units. It commercializes battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) to the trucking sector.

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