Nikola Co. (NASDAQ:NKLA – Get Free Report) traded up 1% during trading on Tuesday . The stock traded as high as $0.66 and last traded at $0.64. 20,764,791 shares were traded during trading, a decline of 78% from the average session volume of 96,579,539 shares. The stock had previously closed at $0.63.
Analysts Set New Price Targets
Several research analysts have commented on the stock. DA Davidson reiterated a “neutral” rating and set a $1.00 price target on shares of Nikola in a report on Tuesday, March 5th. Wolfe Research began coverage on shares of Nikola in a report on Tuesday, April 9th. They issued a “peer perform” rating for the company. Finally, 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 target price for the company.
Get Our Latest Analysis on NKLA
Nikola Stock Down 2.4 %
Nikola (NASDAQ:NKLA – Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.05. The business had revenue of $11.53 million during the quarter, compared to analysts’ expectations of $14.52 million. During the same quarter last year, the company earned ($0.46) EPS. As a group, research analysts expect that Nikola Co. will post -0.44 earnings per share for the current year.
Insider Activity at Nikola
In related news, insider Joseph R. Pike sold 75,162 shares of the company’s 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 sale, the insider now owns 429,790 shares in the company, valued at approximately $292,257.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.00% of the stock is owned by insiders.
Institutional Trading of Nikola
Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Wealth Alliance LLC purchased a new stake in Nikola in the 3rd quarter valued at $25,000. Silicon Valley Capital Partners purchased a new position in Nikola during the 3rd quarter worth $30,000. Marathon Trading Investment Management LLC purchased a new position in Nikola during the 3rd quarter worth $33,000. Rathbones Group PLC purchased a new position in Nikola during the 3rd quarter worth $46,000. Finally, Private Advisor Group LLC purchased a new position in Nikola during the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 37.38% of the company’s stock.
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.
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