Nikola (NASDAQ:NKLA – Get Rating) posted its earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02, Briefing.com reports. The firm had revenue of $18.10 million during the quarter, compared to the consensus estimate of $16.58 million. During the same period in the prior year, the company posted ($0.36) EPS. The firm’s revenue was up 1710.0% compared to the same quarter last year.
Nikola Price Performance
Shares of NASDAQ:NKLA traded up $0.10 during trading on Friday, hitting $8.05. 14,847,450 shares of the company’s stock were exchanged, compared to its average volume of 8,307,379. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.28 and a quick ratio of 2.14. Nikola has a 52-week low of $4.41 and a 52-week high of $15.56. The business’s 50-day simple moving average is $5.93 and its 200 day simple moving average is $7.15. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -4.35 and a beta of 1.35.
Wall Street Analysts Forecast Growth
NKLA has been the topic of a number of recent research reports. Wedbush lowered their target price on Nikola from $15.00 to $10.00 in a report on Tuesday, May 10th. Evercore ISI set a $10.00 price objective on Nikola in a research note on Monday, June 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Nikola from $7.00 to $8.00 in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.88.
Hedge Funds Weigh In On Nikola
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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