Nikola Co. (NASDAQ:NKLA) CEO Mark A. Russell Sells 150,000 Shares of Stock

Nikola Co. (NASDAQ:NKLAGet Rating) CEO Mark A. Russell sold 150,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $5.29, for a total transaction of $793,500.00. Following the sale, the chief executive officer now directly owns 2,812,346 shares in the company, valued at $14,877,310.34. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Nikola Stock Down 10.5 %

Shares of NKLA opened at $4.58 on Tuesday. Nikola Co. has a 52 week low of $4.41 and a 52 week high of $15.56. The firm has a market cap of $1.99 billion, a P/E ratio of -2.48 and a beta of 1.39. The firm’s 50-day simple moving average is $5.99 and its 200 day simple moving average is $6.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.95 and a current ratio of 2.15.

Nikola (NASDAQ:NKLAGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.04. The company had revenue of $18.10 million during the quarter, compared to analyst estimates of $16.58 million. During the same quarter last year, the company posted ($0.36) EPS. The firm’s quarterly revenue was up 1710.0% on a year-over-year basis. On average, analysts forecast that Nikola Co. will post -1.89 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in shares of Nikola during the 1st quarter worth approximately $29,000. Captrust Financial Advisors grew its position in shares of Nikola by 97.2% during the 1st quarter. Captrust Financial Advisors now owns 4,657 shares of the company’s stock worth $50,000 after purchasing an additional 2,296 shares in the last quarter. Castleview Partners LLC grew its position in shares of Nikola by 376.0% during the 2nd quarter. Castleview Partners LLC now owns 4,760 shares of the company’s stock worth $1,000,000 after purchasing an additional 3,760 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Nikola by 218.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,300 shares of the company’s stock worth $67,000 after purchasing an additional 4,320 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Nikola by 106.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,151 shares of the company’s stock worth $39,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 23.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NKLA shares. BTIG Research raised shares of Nikola from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, September 14th. Cowen dropped their target price on shares of Nikola to $12.50 in a report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Nikola from $7.00 to $8.00 in a report on Friday, August 5th. Finally, Evercore ISI set a $10.00 target price on shares of Nikola in a report on Monday, June 20th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.83.

Nikola Company Profile

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Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector.

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