Nikola (NASDAQ:NKLA) Shares Up 1.7%

Nikola Co. (NASDAQ:NKLAGet Free Report) shares traded up 1.7% during mid-day trading on Thursday . The stock traded as high as $0.65 and last traded at $0.64. 18,445,235 shares traded hands during trading, a decline of 79% from the average session volume of 88,047,297 shares. The stock had previously closed at $0.63.

Wall Street Analysts Forecast Growth

NKLA has been the subject of a number of recent analyst reports. Robert W. Baird started coverage on Nikola in a report on Wednesday, January 24th. They issued an “outperform” rating and a $2.00 price objective for the company. DA Davidson reiterated a “neutral” rating and issued a $1.00 price objective on shares of Nikola in a report on Tuesday, March 5th.

Read Our Latest Stock Report on Nikola

Nikola Trading Up 1.9 %

The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $0.69 and its 200 day simple moving average is $0.93.

Nikola (NASDAQ:NKLAGet Free Report) last posted its earnings results on Thursday, February 22nd. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $11.53 million for the quarter, compared to analyst estimates of $14.52 million. Nikola had a negative net margin of 1,475.52% and a negative return on equity of 122.20%. During the same quarter in the prior year, the business posted ($0.46) EPS. As a group, sell-side analysts predict that Nikola Co. will post -0.44 EPS for the current year.

Insider Activity at Nikola

In related news, insider Joseph R. Pike sold 75,162 shares of the business’s stock in a transaction dated 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 directly owns 429,790 shares in the company, valued at $292,257.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. 10.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nikola

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Wealth Alliance LLC purchased a new position in Nikola during the third quarter valued at $25,000. Marshall Wace LLP purchased a new stake in shares of Nikola during the 4th quarter valued at about $25,000. Wexford Capital LP purchased a new stake in shares of Nikola during the 4th quarter valued at about $25,000. Banque Pictet & Cie SA purchased a new stake in Nikola in the 3rd quarter worth approximately $27,000. Finally, Quantbot Technologies LP purchased a new stake in Nikola in the 1st quarter worth approximately $29,000. 24.17% of the stock is currently owned by hedge funds and other institutional investors.

About Nikola

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Nikola Corporation operates as a technology innovator and integrator that develops energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) to the trucking sector.

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