Tidal Investments LLC Acquires 92,612 Shares of Nikola Co. (NASDAQ:NKLA)

Tidal Investments LLC lifted its stake in shares of Nikola Co. (NASDAQ:NKLA) by 193.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 140,523 shares of the company’s stock after acquiring an additional 92,612 shares during the quarter. Tidal Investments LLC’s holdings in Nikola were worth $644,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Barclays PLC raised its holdings in Nikola by 121.1% in the 3rd quarter. Barclays PLC now owns 9,475 shares of the company’s stock worth $43,000 after acquiring an additional 5,190 shares during the period. Summit Securities Group LLC bought a new position in shares of Nikola in the second quarter worth about $56,000. One Wealth Management Investment & Advisory Services LLC bought a new stake in Nikola during the 3rd quarter valued at approximately $110,000. Sanctuary Advisors LLC acquired a new stake in Nikola in the 2nd quarter valued at approximately $138,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nikola by 84.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,312 shares of the company’s stock worth $208,000 after buying an additional 20,723 shares during the period. 37.38% of the stock is owned by institutional investors.

Nikola Trading Up 0.9 %

Shares of Nikola stock opened at $1.18 on Friday. Nikola Co. has a 52-week low of $1.12 and a 52-week high of $34.50. The firm has a market capitalization of $71.82 million, a PE ratio of -0.08 and a beta of 1.92. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.17 and a quick ratio of 0.94. The company’s fifty day moving average price is $2.70 and its two-hundred day moving average price is $6.34.

Nikola (NASDAQ:NKLA) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($2.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.24) by ($0.51). The business had revenue of $25.20 million during the quarter, compared to analyst estimates of $37.23 million. Nikola had a negative return on equity of 95.73% and a negative net margin of 840.44%. Nikola’s revenue was up 1382.4% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NKLA shares. Robert W. Baird lowered their price objective on shares of Nikola from $14.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. TD Cowen decreased their price target on shares of Nikola from $10.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Bryan, Garnier & Co lowered shares of Nikola from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Finally, DA Davidson decreased their target price on Nikola from $12.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Nikola has an average rating of “Hold” and a consensus price target of $12.00.

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.