Nikola (NASDAQ:NKLA) Stock Price Up 0.1%

Shares of Nikola Co. (NASDAQ:NKLA) rose 0.1% during mid-day trading on Thursday . The stock traded as high as $0.63 and last traded at $0.60. Approximately 25,087,557 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 94,514,352 shares. The stock had previously closed at $0.60.

Wall Street Analysts Forecast Growth

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

Nikola Trading Up 1.4 %

The stock has a market cap of $830.66 million, a PE ratio of -0.48 and a beta of 2.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.96 and a current ratio of 2.20. The company’s 50-day moving average price is $0.74 and its 200 day moving average price is $0.82.

Nikola (NASDAQ:NKLA) last posted its earnings results on Thursday, February 22nd. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $11.53 million during the quarter, compared to analyst estimates of $14.52 million. During the same period in the previous year, the company earned ($0.46) EPS. On average, sell-side analysts forecast that Nikola Co. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Nikola

In other Nikola news, insider Joseph R. Pike sold 75,162 shares of Nikola stock in a transaction that occurred 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 sale, the insider now owns 429,790 shares of the company’s stock, valued at approximately $292,257.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nikola

Several hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Nikola in the fourth quarter worth approximately $93,633,000. Vanguard Group Inc. raised its position in shares of Nikola by 27.1% in the 3rd quarter. Vanguard Group Inc. now owns 56,706,189 shares of the company’s stock worth $89,029,000 after buying an additional 12,085,830 shares during the period. Van ECK Associates Corp grew its position in Nikola by 65.4% during the first quarter. Van ECK Associates Corp now owns 10,695,472 shares of the company’s stock valued at $11,123,000 after acquiring an additional 4,229,114 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 acquiring an additional 1,577,112 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Nikola by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,588,507 shares of the company’s stock valued at $7,204,000 after buying an additional 1,199,365 shares in the last quarter. 37.38% of the stock is owned by institutional investors and hedge funds.

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.