Nikola (NASDAQ:NKLA) Shares Gap Down to $0.54

Nikola Co. (NASDAQ:NKLAGet Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $0.54, but opened at $0.51. Nikola shares last traded at $0.51, with a volume of 6,056,903 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NKLA shares. Bryan, Garnier & Co started coverage on shares of Nikola in a research report on Thursday, May 16th. They issued a “buy” rating and a $1.00 price target on the stock. DA Davidson reiterated a “neutral” rating and issued a $1.00 price target on shares of Nikola in a research report on Tuesday, March 5th. Finally, Wolfe Research started coverage on shares of Nikola in a research report on Tuesday, April 9th. They issued a “peer perform” rating on the stock.

Read Our Latest Report on Nikola

Nikola Stock Performance

The company has a fifty day simple moving average of $0.66 and a 200-day simple moving average of $0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.50 and a current ratio of 1.73.

Nikola (NASDAQ:NKLAGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). The company had revenue of $7.50 million for the quarter, compared to analyst estimates of $15.05 million. On average, sell-side analysts expect that Nikola Co. will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Stephen J. Girsky acquired 1,000,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $0.54 per share, for a total transaction of $540,000.00. Following the acquisition, the chief executive officer now owns 7,243,005 shares in the company, valued at $3,911,222.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Nikola

Institutional investors and hedge funds have recently bought and sold shares of the business. Marathon Trading Investment Management LLC purchased a new position in Nikola during the 3rd quarter valued at about $33,000. Rathbones Group PLC purchased a new position in Nikola during the 3rd quarter valued at about $46,000. Private Advisor Group LLC bought a new stake in shares of Nikola in the 3rd quarter valued at approximately $51,000. Diversify Advisory Services LLC bought a new stake in shares of Nikola in the 1st quarter valued at approximately $43,000. Finally, Tower Research Capital LLC TRC increased its holdings in Nikola by 162.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock worth $43,000 after buying an additional 30,490 shares during the last quarter. Hedge funds and other institutional investors own 37.38% of the company’s stock.

Nikola Company Profile

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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.

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