Nikola (NASDAQ:NKLA) Shares Set to Reverse Split on Tuesday, June 25th

Nikola Co. (NASDAQ:NKLA) shares are going to reverse split on Tuesday, June 25th. The 1-30 reverse split was announced on Tuesday, June 25th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, June 25th.

Nikola Price Performance

Shares of Nikola stock opened at $0.36 on Friday. Nikola has a fifty-two week low of $0.32 and a fifty-two week high of $3.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.50. The firm has a fifty day moving average price of $0.55 and a two-hundred day moving average price of $0.70. The company has a market cap of $484.56 million, a PE ratio of -0.34 and a beta of 2.11.

Nikola (NASDAQ:NKLA) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). The company had revenue of $7.50 million during the quarter, compared to the consensus estimate of $15.05 million. Analysts expect that Nikola will post -0.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NKLA. DA Davidson reiterated a “neutral” rating and set a $1.00 target price on shares of Nikola in a research report on Wednesday, June 12th. Wolfe Research began coverage on shares of Nikola in a report on Tuesday, April 9th. They set a “peer perform” rating for the company. Finally, Bryan, Garnier & Co started coverage on shares of Nikola in a research note on Thursday, May 16th. They issued a “buy” rating and a $1.00 target price for the company.

Insider Transactions at Nikola

In other Nikola news, CEO Stephen J. Girsky purchased 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average cost of $0.54 per share, with a total value of $540,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,243,005 shares of the company’s stock, valued at approximately $3,911,222.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.74% of the company’s stock.

Institutional Trading of Nikola

A number of hedge funds and other institutional investors have recently modified their holdings of NKLA. Marathon Trading Investment Management LLC bought a new position in Nikola in the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC boosted its holdings in Nikola by 162.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock valued at $43,000 after acquiring an additional 30,490 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Nikola in the first quarter worth about $43,000. Rathbones Group PLC bought a new stake in Nikola during the 3rd quarter worth about $46,000. Finally, Seaview Investment Managers LLC raised its holdings in Nikola by 78.3% during the 4th quarter. Seaview Investment Managers LLC now owns 68,333 shares of the company’s stock worth $60,000 after purchasing an additional 30,000 shares during the last quarter. Institutional investors and hedge funds own 37.38% of the company’s stock.

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.