-$0.27 Earnings Per Share Expected for Nikola Co. (NASDAQ:NKLA) This Quarter

Wall Street brokerages expect Nikola Co. (NASDAQ:NKLA – Get Rating) to post earnings per share of ($0.27) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Nikola’s earnings, with the lowest EPS estimate coming in at ($0.36) and the highest estimate coming in at ($0.23). Nikola posted earnings per share of ($0.14) in the same quarter last year, which would suggest a negative year over year growth rate of 92.9%. The company is scheduled to report its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Nikola will report full year earnings of ($1.14) per share for the current financial year, with EPS estimates ranging from ($1.54) to ($0.92). For the next year, analysts anticipate that the firm will report earnings of ($0.97) per share, with EPS estimates ranging from ($1.17) to ($0.75). Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Nikola.

Nikola (NASDAQ:NKLA – Get Rating) last issued its earnings results on Thursday, February 24th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.23. During the same quarter in the prior year, the firm posted ($0.38) EPS.

A number of research firms recently commented on NKLA. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Nikola from $19.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, February 25th. Royal Bank of Canada reduced their target price on shares of Nikola from $11.00 to $8.00 and set a “sector perform” rating for the company in a research note on Friday, February 25th. Zacks Investment Research lowered shares of Nikola from a “buy” rating to a “hold” rating in a research note on Wednesday. Wedbush reaffirmed a “neutral” rating on shares of Nikola in a research note on Thursday, March 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Nikola from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, February 25th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Nikola currently has a consensus rating of “Hold” and an average price target of $11.72.

In other news, insider Pablo M. Koziner sold 50,579 shares of the firm’s stock in a transaction dated Tuesday, January 18th. The stock was sold at an average price of $9.89, for a total value of $500,226.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in Nikola by 47.6% during the second quarter. Wells Fargo & Company MN now owns 104,720 shares of the company’s stock worth $1,891,000 after purchasing an additional 33,793 shares during the period. Morgan Stanley grew its holdings in Nikola by 54.8% during the second quarter. Morgan Stanley now owns 694,697 shares of the company’s stock worth $12,546,000 after purchasing an additional 245,832 shares during the period. Parametric Portfolio Associates LLC bought a new position in Nikola during the second quarter worth about $703,000. Private Advisor Group LLC bought a new position in Nikola during the third quarter worth about $112,000. Finally, Kestra Advisory Services LLC grew its holdings in Nikola by 62.7% during the third quarter. Kestra Advisory Services LLC now owns 112,588 shares of the company’s stock worth $1,201,000 after purchasing an additional 43,385 shares during the period. Institutional investors own 43.70% of the company’s stock.

NKLA opened at $8.25 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.84 and a current ratio of 2.91. Nikola has a 12 month low of $6.41 and a 12 month high of $19.52. The company has a fifty day simple moving average of $8.43 and a 200 day simple moving average of $9.80.

Nikola Company Profile (Get Rating)

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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