Nikola (NASDAQ:NKLA) Shares Up 1.9%

Nikola Co. (NASDAQ:NKLA) shot up 1.9% on Friday . The stock traded as high as $0.68 and last traded at $0.67. 16,113,989 shares were traded during trading, a decline of 83% from the average session volume of 97,482,414 shares. The stock had previously closed at $0.66.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NKLA. Wolfe Research initiated coverage on Nikola in a research report on Tuesday, April 9th. They set a “peer perform” rating on the stock. Robert W. Baird initiated coverage on Nikola in a research note on Wednesday, January 24th. They set an “outperform” rating and a $2.00 price objective for the company. Finally, DA Davidson reiterated a “neutral” rating and set a $1.00 price objective on shares of Nikola in a research note on Tuesday, March 5th.

Nikola Stock Up 0.0 %

The stock has a 50 day simple moving average of $0.76 and a 200-day simple moving average of $0.87. The firm has a market cap of $881.64 million, a PE ratio of -0.53 and a beta of 1.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.96.

Nikola (NASDAQ:NKLA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $11.53 million for the quarter, compared to analysts’ expectations of $14.52 million. During the same quarter in the previous year, the firm posted ($0.46) EPS. Sell-side analysts predict that Nikola Co. will post -0.44 EPS for the current fiscal year.

Insider Transactions at Nikola

In other news, insider Joseph R. Pike sold 75,162 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $0.68, for a total value of $51,110.16. Following the completion of the transaction, the insider now owns 429,790 shares in the company, valued at $292,257.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.00% of the company’s stock.

Institutional Trading of Nikola

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

Nikola Company Profile

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.