Stock Traders Buy Large Volume of Nikola Put Options (NASDAQ:NKLA)

Nikola Co. (NASDAQ:NKLAGet Free Report) was the target of some unusual options trading activity on Tuesday. Traders bought 105,511 put options on the stock. This is an increase of 84% compared to the average volume of 57,357 put options.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. DA Davidson reissued a “neutral” rating and set a $1.00 price target on shares of Nikola in a research report on Tuesday, March 5th. Robert W. Baird assumed coverage on shares of Nikola in a research report on Wednesday, January 24th. They set an “outperform” rating and a $2.00 price target on the stock.

Get Our Latest Stock Report on NKLA

Insider Activity at Nikola

In related news, insider Joseph R. Pike sold 75,162 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $0.68, for a total value of $51,110.16. Following the sale, the insider now directly owns 429,790 shares of the company’s stock, valued at approximately $292,257.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Nikola during the 4th quarter worth about $93,633,000. Vanguard Group Inc. grew its stake in Nikola by 36.0% in the 4th quarter. Vanguard Group Inc. now owns 77,145,785 shares of the company’s stock valued at $67,487,000 after buying an additional 20,439,596 shares during the last quarter. BlackRock Inc. grew its stake in Nikola by 81.2% in the 2nd quarter. BlackRock Inc. now owns 43,278,195 shares of the company’s stock valued at $59,724,000 after buying an additional 19,389,959 shares during the last quarter. State Street Corp grew its stake in Nikola by 78.2% in the 2nd quarter. State Street Corp now owns 13,815,909 shares of the company’s stock valued at $19,066,000 after buying an additional 6,061,239 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Nikola by 67.6% in the 2nd quarter. Geode Capital Management LLC now owns 11,626,618 shares of the company’s stock valued at $16,045,000 after buying an additional 4,690,316 shares during the last quarter. 37.38% of the stock is currently owned by institutional investors and hedge funds.

Nikola Stock Down 5.5 %

Nikola stock opened at $0.97 on Wednesday. The company’s 50-day moving average is $0.73 and its 200-day moving average is $0.92. Nikola has a fifty-two week low of $0.52 and a fifty-two week high of $3.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.96 and a current ratio of 2.20.

Nikola (NASDAQ:NKLAGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.05. The firm had revenue of $11.53 million for the quarter, compared to analyst estimates of $14.52 million. During the same quarter in the prior year, the firm earned ($0.46) earnings per share. On average, analysts anticipate that Nikola will post -0.44 EPS for the current fiscal year.

Nikola Company Profile

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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.

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