Nikola (NASDAQ:NKLA) Shares Up 5.8%

Nikola Co. (NASDAQ:NKLA) shares were up 5.8% on Thursday . The company traded as high as $0.68 and last traded at $0.68. Approximately 17,143,873 shares changed hands during trading, a decline of 83% from the average daily volume of 98,210,844 shares. The stock had previously closed at $0.64.

Wall Street Analyst Weigh In

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

Nikola Stock Up 2.1 %

The stock has a market capitalization of $877.23 million, a price-to-earnings ratio of -0.54 and a beta of 1.99. The business’s 50-day moving average is $0.76 and its two-hundred day moving average is $0.88. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.37.

Nikola (NASDAQ:NKLA) last issued its earnings results on Thursday, February 22nd. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $11.53 million for the quarter, compared to analysts’ expectations of $14.52 million. During the same period last year, the firm earned ($0.46) earnings per share. Equities analysts anticipate that Nikola Co. will post -0.44 EPS for the current year.

Insiders Place Their Bets

In other Nikola news, insider Joseph R. Pike sold 75,162 shares of Nikola 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 transaction, the insider now directly owns 429,790 shares of the company’s stock, valued at $292,257.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Nikola

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Wealth Alliance LLC purchased a new stake in shares of Nikola in the 3rd quarter valued at approximately $25,000. Marshall Wace LLP purchased a new stake in Nikola during the 4th quarter worth approximately $25,000. Wexford Capital LP purchased a new stake in Nikola during the 4th quarter worth approximately $25,000. Banque Pictet & Cie SA purchased a new stake in Nikola during the 3rd quarter worth approximately $27,000. Finally, Quantbot Technologies LP purchased a new stake in Nikola during the 1st quarter worth approximately $29,000. 37.38% of the stock is owned by hedge funds and other institutional investors.

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.