Nikola (NASDAQ:NKLA) Stock Price Down 7.2%

Nikola Co. (NASDAQ:NKLAGet Free Report) was down 7.2% during trading on Friday . The company traded as low as $0.53 and last traded at $0.53. Approximately 82,320,805 shares traded hands during trading, a decline of 14% from the average daily volume of 95,262,367 shares. The stock had previously closed at $0.58.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on NKLA

Nikola Stock Down 6.8 %

The stock has a 50-day simple moving average of $0.72 and a 200 day simple moving average of $0.80. The company has a quick ratio of 1.96, a current ratio of 1.73 and a debt-to-equity ratio of 0.46.

Nikola (NASDAQ:NKLAGet Free Report) last posted its earnings results on Thursday, February 22nd. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.05. The company had revenue of $11.53 million for the quarter, compared to the consensus estimate of $14.52 million. During the same quarter last year, the business earned ($0.46) EPS. On average, equities research analysts forecast that Nikola Co. will post -0.44 EPS for the current year.

Insider Buying and Selling

In related news, insider Joseph R. Pike sold 75,162 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $0.68, for a total transaction of $51,110.16. Following the completion of the transaction, the insider now owns 429,790 shares in the company, valued at approximately $292,257.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nikola

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Wealth Alliance LLC acquired a new stake in Nikola during the 3rd quarter valued at $25,000. Silicon Valley Capital Partners acquired a new stake in Nikola during the 3rd quarter valued at $30,000. Marathon Trading Investment Management LLC acquired a new stake in shares of Nikola in the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC increased its stake in shares of Nikola by 162.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock valued at $43,000 after buying an additional 30,490 shares during the period. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Nikola in the 1st quarter valued at $43,000. 37.38% of the stock is owned by institutional investors and hedge funds.

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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