Nikola Target of Unusually High Options Trading (NASDAQ:NKLA)

Nikola Co. (NASDAQ:NKLA) was the target of unusually large options trading on Tuesday. Stock traders acquired 209,974 put options on the company. This is an increase of 353% compared to the typical daily volume of 46,332 put options.

Insider Activity at Nikola

In other news, insider Joseph R. Pike sold 75,162 shares of the stock in a transaction 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 transaction, the insider now owns 429,790 shares in the company, valued at approximately $292,257.20. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Capital Wealth Alliance LLC acquired a new stake in shares of Nikola in the 3rd quarter valued at approximately $25,000. Silicon Valley Capital Partners bought a new stake in shares of Nikola in the 3rd quarter valued at $30,000. Marathon Trading Investment Management LLC acquired a new stake in Nikola during the 3rd quarter worth $33,000. Tower Research Capital LLC TRC lifted its holdings in Nikola by 162.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock worth $43,000 after acquiring an additional 30,490 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of Nikola in the first quarter worth about $43,000. 37.38% of the stock is currently owned by institutional investors and hedge funds.

Nikola Trading Down 5.4 %

NKLA opened at $0.60 on Wednesday. Nikola has a 1-year low of $0.52 and a 1-year high of $3.71. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $0.74 and a two-hundred day moving average price of $0.81. The stock has a market capitalization of $817.64 million, a PE ratio of -0.47 and a beta of 2.10.

Nikola (NASDAQ:NKLA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.12) EPS 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 previous year, the business posted ($0.46) earnings per share. As a group, equities analysts anticipate that Nikola will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NKLA has been the topic of several recent analyst reports. Robert W. Baird started coverage on Nikola in a research note on Wednesday, January 24th. They issued an “outperform” rating and a $2.00 price target on the stock. Wolfe Research began coverage on shares of Nikola in a research report on Tuesday, April 9th. They issued a “peer perform” rating on the stock. Finally, DA Davidson reiterated a “neutral” rating and issued a $1.00 target price on shares of Nikola in a research note on Tuesday, March 5th.

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.