$16.61 Million in Sales Expected for Nikola Co. (NASDAQ:NKLA) This Quarter

Brokerages expect that Nikola Co. (NASDAQ:NKLAGet Rating) will announce sales of $16.61 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Nikola’s earnings, with the highest sales estimate coming in at $17.33 million and the lowest estimate coming in at $16.00 million. The company is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Nikola will report full-year sales of $113.01 million for the current year, with estimates ranging from $104.39 million to $124.40 million. For the next year, analysts anticipate that the company will report sales of $631.54 million, with estimates ranging from $605.00 million to $658.79 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Nikola.

Nikola (NASDAQ:NKLAGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.16. The firm had revenue of $1.90 million for the quarter, compared to analyst estimates of $0.13 million. The firm’s revenue for the quarter was up 1899900.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) EPS.

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Nikola from $11.00 to $8.00 and set a “sector perform” rating for the company in a report on Friday, February 25th. Wedbush reduced their price target on shares of Nikola from $15.00 to $10.00 in a report on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nikola from $19.00 to $11.00 and set a “hold” rating for the company in a report on Friday, February 25th. Cowen reduced their target price on shares of Nikola from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Finally, Zacks Investment Research upgraded shares of Nikola from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.09.

Nikola stock opened at $5.88 on Wednesday. The stock has a market capitalization of $2.48 billion, a PE ratio of -3.27 and a beta of 1.07. Nikola has a twelve month low of $4.82 and a twelve month high of $19.52. The company has a quick ratio of 2.14, a current ratio of 2.28 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $7.94 and a 200-day moving average of $8.90.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its position in shares of Nikola by 5.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 75,536 shares of the company’s stock valued at $746,000 after purchasing an additional 3,688 shares during the period. Geode Capital Management LLC raised its position in shares of Nikola by 19.7% in the third quarter. Geode Capital Management LLC now owns 3,708,299 shares of the company’s stock valued at $39,567,000 after purchasing an additional 610,117 shares during the period. Versor Investments LP bought a new position in shares of Nikola in the fourth quarter valued at about $177,000. Teramo Advisors LLC bought a new position in shares of Nikola in the fourth quarter valued at about $32,535,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Nikola in the fourth quarter valued at about $2,011,000. 48.29% of the stock is currently owned by hedge funds and other institutional investors.

About Nikola (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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Earnings History and Estimates for Nikola (NASDAQ:NKLA)

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