Nikola Co. (NASDAQ:NKLA) Shares Sold by Kestra Advisory Services LLC

Kestra Advisory Services LLC lessened its holdings in shares of Nikola Co. (NASDAQ:NKLAGet Rating) by 65.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,308 shares of the company’s stock after selling 86,767 shares during the period. Kestra Advisory Services LLC’s holdings in Nikola were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WASHINGTON TRUST Co acquired a new stake in Nikola in the 4th quarter valued at approximately $26,000. Citizens Financial Group Inc RI bought a new position in shares of Nikola in the fourth quarter worth $82,000. Daiwa Securities Group Inc. increased its holdings in shares of Nikola by 125.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,898 shares of the company’s stock valued at $88,000 after purchasing an additional 4,959 shares during the period. Capital Wealth Alliance LLC bought a new stake in shares of Nikola during the fourth quarter valued at about $99,000. Finally, Inspirion Wealth Advisors LLC acquired a new stake in Nikola in the first quarter worth about $107,000. 48.29% of the stock is currently owned by institutional investors and hedge funds.

Nikola Trading Up 7.3 %

NASDAQ:NKLA opened at $6.32 on Friday. The stock has a fifty day simple moving average of $5.84 and a 200 day simple moving average of $7.42. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -3.51 and a beta of 1.25. Nikola Co. has a 1-year low of $4.41 and a 1-year high of $15.56. The company has a quick ratio of 2.14, a current ratio of 2.28 and a debt-to-equity ratio of 0.04.

Nikola (NASDAQ:NKLAGet Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.07. The firm had revenue of $1.90 million during the quarter, compared to analyst estimates of $0.13 million. During the same quarter in the previous year, the business earned ($0.31) earnings per share. The business’s quarterly revenue was up 1899900.0% compared to the same quarter last year. Sell-side analysts forecast that Nikola Co. will post -1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

NKLA has been the topic of a number of recent analyst reports. Wedbush dropped their price target on shares of Nikola from $15.00 to $10.00 in a research report on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Nikola from $11.00 to $7.00 in a report on Monday. Finally, Evercore ISI set a $10.00 price objective on Nikola in a research note on Monday, June 20th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.75.

Nikola Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Nikola (NASDAQ:NKLA)

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