Nikola Co. (NASDAQ:NKLA – Get Free Report)’s stock price traded down 2.3% during trading on Wednesday . The stock traded as low as $0.61 and last traded at $0.61. 25,757,232 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 94,775,086 shares. The stock had previously closed at $0.62.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Nikola in a research note on Tuesday, April 9th. They set a “peer perform” rating on the stock. Robert W. Baird started coverage on Nikola in a research report on Wednesday, January 24th. They issued an “outperform” rating and a $2.00 price target for the company. Finally, DA Davidson reiterated a “neutral” rating and issued a $1.00 target price on shares of Nikola in a research note on Tuesday, March 5th.
Read Our Latest Research Report on NKLA
Nikola Price Performance
Nikola (NASDAQ:NKLA – Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $11.53 million during the quarter, compared to analyst estimates of $14.52 million. During the same period in the prior year, the business posted ($0.46) EPS. As a group, equities research analysts forecast that Nikola Co. will post -0.44 EPS for the current year.
Insider Transactions 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 stock was sold at an average price of $0.68, for a total value of $51,110.16. Following the transaction, the insider now directly owns 429,790 shares of the company’s stock, valued at approximately $292,257.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 10.00% of the company’s stock.
Hedge Funds Weigh In On Nikola
A number of institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Nikola by 43.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,242,060 shares of the company’s stock worth $8,230,000 after purchasing an additional 1,577,112 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Nikola by 5.9% in the 3rd 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 buying an additional 75,880 shares during the period. Swiss National Bank boosted its stake in shares of Nikola by 14.6% in the third quarter. Swiss National Bank now owns 1,260,400 shares of the company’s stock worth $1,979,000 after buying an additional 160,700 shares during the last quarter. Vanguard Group Inc. grew its holdings in Nikola by 27.1% during the third quarter. Vanguard Group Inc. now owns 56,706,189 shares of the company’s stock worth $89,029,000 after acquiring an additional 12,085,830 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Nikola by 22.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 729,059 shares of the company’s stock valued at $638,000 after acquiring an additional 135,041 shares in the last quarter. 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.
Further Reading
- Five stocks we like better than Nikola
- What is the Dow Jones Industrial Average (DJIA)?
- Appleās Earnings Show Investors Its Strength and Its Weakness
- How to Most Effectively Use the MarketBeat Earnings Screener
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- DraftKings Q1: Strong Customer Acquisition and Product Innovation
Receive News & Ratings for Nikola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nikola and related companies with MarketBeat.com's FREE daily email newsletter.