Van ECK Associates Corp Has $5.66 Million Holdings in Nikola Co. (NASDAQ:NKLA)

Van ECK Associates Corp boosted its stake in shares of Nikola Co. (NASDAQ:NKLA) by 47.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,466,358 shares of the company’s stock after buying an additional 2,083,089 shares during the quarter. Van ECK Associates Corp’s holdings in Nikola were worth $5,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Nikola by 43.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,242,060 shares of the company’s stock valued at $8,230,000 after purchasing an additional 1,577,112 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Nikola by 5.9% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,369,619 shares of the company’s stock valued at $2,150,000 after purchasing an additional 75,880 shares during the last quarter. Swiss National Bank raised its stake in Nikola by 14.6% during the 3rd quarter. Swiss National Bank now owns 1,260,400 shares of the company’s stock valued at $1,979,000 after purchasing an additional 160,700 shares during the last quarter. Vanguard Group Inc. raised its stake in Nikola by 27.1% during the 3rd quarter. Vanguard Group Inc. now owns 56,706,189 shares of the company’s stock valued at $89,029,000 after purchasing an additional 12,085,830 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Nikola by 22.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 729,059 shares of the company’s stock valued at $638,000 after buying an additional 135,041 shares during the period. 37.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nikola

In other Nikola news, insider Joseph R. Pike sold 75,162 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $0.68, for a total transaction of $51,110.16. Following the sale, the insider now owns 429,790 shares of the company’s stock, valued at approximately $292,257.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.00% of the stock is owned by insiders.

Nikola Stock Performance

Shares of Nikola stock opened at $0.66 on Friday. The company’s fifty day moving average price is $0.74 and its two-hundred day moving average price is $0.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.96. Nikola Co. has a 52-week low of $0.52 and a 52-week high of $3.71.

Nikola (NASDAQ:NKLA) last posted its earnings results on Thursday, February 22nd. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the company posted ($0.46) EPS. Analysts anticipate that Nikola Co. will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on NKLA. DA Davidson reissued a “neutral” rating and issued a $1.00 price target on shares of Nikola in a report on Tuesday, March 5th. Robert W. Baird began coverage on shares of Nikola in a report on Wednesday, January 24th. They issued an “outperform” rating and a $2.00 price target on the stock. Finally, Wolfe Research began coverage on shares of Nikola in a report on Tuesday, April 9th. They issued a “peer perform” rating on the stock.

Nikola Company Profile

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.