Raymond James & Associates grew its position in shares of Nikola Co. (NASDAQ:NKLA – Free Report) by 26.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,339 shares of the company’s stock after purchasing an additional 21,810 shares during the quarter. Raymond James & Associates’ holdings in Nikola were worth $144,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC boosted its holdings in Nikola by 8.2% during the 1st quarter. Krane Funds Advisors LLC now owns 248,754 shares of the company’s stock valued at $271,000 after acquiring an additional 18,844 shares during the period. Meitav Investment House Ltd. purchased a new stake in Nikola in the 2nd quarter worth approximately $2,555,000. Oxinas Partners Wealth Management LLC purchased a new stake in Nikola in the 2nd quarter worth approximately $28,000. Van ECK Associates Corp lifted its holdings in Nikola by 39.5% in the 1st quarter. Van ECK Associates Corp now owns 2,995,523 shares of the company’s stock worth $3,625,000 after buying an additional 848,772 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Nikola by 102.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,728,973 shares of the company’s stock worth $4,512,000 after buying an additional 1,886,639 shares during the period. 24.17% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, DA Davidson increased their price objective on Nikola from $1.00 to $3.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. Five 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.33.
Nikola Trading Up 4.6 %
NKLA opened at $1.01 on Tuesday. The stock has a market cap of $1.03 billion, a PE ratio of -0.64 and a beta of 1.98. The company has a quick ratio of 1.41, a current ratio of 1.61 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $1.20 and a 200-day moving average of $1.33. Nikola Co. has a 52 week low of $0.52 and a 52 week high of $3.71.
Nikola Corporation operates as a technology innovator and integrator that develops energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) to the trucking sector.
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