Nikola (NASDAQ:NKLA) Trading 3.9% Higher

Nikola Co. (NASDAQ:NKLA)’s share price traded up 3.9% during mid-day trading on Friday . The company traded as high as $0.79 and last traded at $0.75. 75,864,277 shares changed hands during trading, a decline of 23% from the average session volume of 98,895,836 shares. The stock had previously closed at $0.72.

Wall Street Analyst Weigh In

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

Nikola Trading Down 2.3 %

The company has a market capitalization of $935.33 million, a P/E ratio of -0.56 and a beta of 1.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.96 and a current ratio of 2.20. The company’s fifty day simple moving average is $0.76 and its 200-day simple moving average is $0.90.

Nikola (NASDAQ:NKLA) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $11.53 million during the quarter, compared to the consensus estimate of $14.52 million. During the same quarter in the prior year, the business posted ($0.46) earnings per share. Research analysts predict that Nikola Co. will post -0.44 earnings per share for the current year.

Insider Activity

In related news, insider Joseph R. Pike sold 75,162 shares of Nikola stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $0.68, for a total value of $51,110.16. Following the completion of the sale, the insider now directly owns 429,790 shares in the company, valued at approximately $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

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Nikola by 36.0% during the 4th quarter. Vanguard Group Inc. now owns 77,145,785 shares of the company’s stock valued at $67,487,000 after acquiring an additional 20,439,596 shares during the period. Krane Funds Advisors LLC lifted its stake in shares of Nikola by 7.4% in the 4th quarter. Krane Funds Advisors LLC now owns 419,671 shares of the company’s stock valued at $367,000 after purchasing an additional 29,016 shares during the period. Legal & General Group Plc lifted its stake in shares of Nikola by 68.5% in the 4th quarter. Legal & General Group Plc now owns 880,487 shares of the company’s stock valued at $770,000 after purchasing an additional 357,819 shares during the period. Wexford Capital LP purchased a new stake in Nikola in the 4th quarter worth $25,000. Finally, Bayesian Capital Management LP purchased a new stake in Nikola in the 4th quarter worth $142,000. 37.38% of the stock is currently owned by institutional investors and hedge funds.

About Nikola

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.