Nikola (NASDAQ:NKLA) Stock Price Up 9.6%

Nikola Co. (NASDAQ:NKLA) was up 9.6% on Wednesday . The company traded as high as $10.86 and last traded at $10.27. Approximately 1,827,420 shares were traded during trading, a decline of 40% from the average daily volume of 3,058,681 shares. The stock had previously closed at $9.37.

Analyst Ratings Changes

Several equities research analysts have commented on the company. DA Davidson restated a “neutral” rating and issued a $30.00 price objective on shares of Nikola in a research report on Wednesday, June 12th. Bryan, Garnier & Co initiated coverage on shares of Nikola in a report on Thursday, May 16th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Wolfe Research started coverage on shares of Nikola in a research report on Tuesday, April 9th. They issued a “peer perform” rating for the company.

Nikola Price Performance

The firm’s 50-day moving average is $15.79 and its two-hundred day moving average is $20.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.50 and a current ratio of 1.73.

Nikola (NASDAQ:NKLA) last released its earnings results on Tuesday, May 7th. The company reported ($3.00) earnings per share for the quarter, meeting the consensus estimate of ($3.00). The firm had revenue of $7.50 million during the quarter, compared to analysts’ expectations of $15.05 million.

Insider Transactions at Nikola

In other news, CEO Stephen J. Girsky acquired 33,333 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average price of $16.20 per share, with a total value of $539,994.60. Following the completion of the acquisition, the chief executive officer now owns 241,433 shares of the company’s stock, valued at approximately $3,911,214.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.74% of the company’s stock.

Institutional Trading of Nikola

Several institutional investors have recently made changes to their positions in NKLA. Tower Research Capital LLC TRC increased its stake in Nikola by 162.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock worth $43,000 after acquiring an additional 30,490 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in Nikola in the first quarter valued at about $43,000. Seaview Investment Managers LLC boosted its stake in Nikola by 78.3% during the fourth quarter. Seaview Investment Managers LLC now owns 68,333 shares of the company’s stock worth $60,000 after buying an additional 30,000 shares during the period. Cantor Fitzgerald L. P. increased its position in shares of Nikola by 817.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 93,244 shares of the company’s stock valued at $82,000 after acquiring an additional 83,081 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Nikola by 55.7% in the 4th quarter. Victory Capital Management Inc. now owns 123,022 shares of the company’s stock valued at $108,000 after acquiring an additional 43,985 shares during the period. Hedge funds and other institutional investors 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.