Nikola Co. (NASDAQ:NKLA) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in shares of Nikola Co. (NASDAQ:NKLA) by 47.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,466,358 shares of the company’s stock after acquiring an additional 2,083,089 shares during the quarter. Van ECK Associates Corp owned about 0.63% of Nikola worth $5,657,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Nikola by 43.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,242,060 shares of the company’s stock worth $8,230,000 after acquiring an additional 1,577,112 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Nikola by 5.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,369,619 shares of the company’s stock valued at $2,150,000 after purchasing an additional 75,880 shares during the period. Swiss National Bank increased its stake in Nikola by 14.6% in the third quarter. Swiss National Bank now owns 1,260,400 shares of the company’s stock valued at $1,979,000 after purchasing an additional 160,700 shares during the period. Vanguard Group Inc. increased its stake in Nikola by 27.1% in the third quarter. Vanguard Group Inc. now owns 56,706,189 shares of the company’s stock valued at $89,029,000 after purchasing an additional 12,085,830 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Nikola by 22.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 729,059 shares of the company’s stock valued at $638,000 after purchasing an additional 135,041 shares during the period. 37.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Joseph R. Pike sold 75,162 shares of the business’s 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 sale, the insider now owns 429,790 shares of the company’s stock, valued at $292,257.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Nikola Trading Up 7.3 %

Shares of NASDAQ:NKLA opened at $0.66 on Friday. The firm’s 50-day simple moving average is $0.74 and its 200-day simple moving average is $0.82. 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 Co. has a fifty-two week low of $0.52 and a fifty-two week high of $3.71.

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

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.