Nikola (NASDAQ:NKLA) Price Target Lowered to $4.00 at TD Cowen

Nikola (NASDAQ:NKLA) had its target price trimmed by TD Cowen from $10.00 to $4.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other research analysts also recently issued reports about the stock. Robert W. Baird decreased their target price on shares of Nikola from $14.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday. DA Davidson decreased their target price on shares of Nikola from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Nikola Trading Down 4.5 %

NKLA stock traded down $0.18 on Friday, hitting $3.76. 4,707,508 shares of the company were exchanged, compared to its average volume of 4,168,441. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.53 and a quick ratio of 1.31. Nikola has a twelve month low of $3.72 and a twelve month high of $38.40. The business’s fifty day moving average is $4.98 and its two-hundred day moving average is $10.08. The stock has a market capitalization of $189.99 million, a price-to-earnings ratio of -0.26 and a beta of 2.07.

Nikola (NASDAQ:NKLA) last released its quarterly earnings data on Friday, August 9th. The company reported ($2.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.78) by $0.11. Nikola had a negative net margin of 840.44% and a negative return on equity of 86.68%. The company had revenue of $31.10 million during the quarter, compared to the consensus estimate of $26.19 million. During the same period in the previous year, the firm earned ($7.21) earnings per share. Nikola’s revenue for the quarter was up 101.9% on a year-over-year basis.

Insider Activity

In other Nikola news, CEO Stephen J. Girsky sold 4,636 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $7.75, for a total transaction of $35,929.00. Following the transaction, the chief executive officer now directly owns 238,311 shares in the company, valued at $1,846,910.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Unique Wealth Strategies LLC bought a new position in Nikola during the 2nd quarter valued at $25,000. Diversify Advisory Services LLC acquired a new stake in shares of Nikola in the 1st quarter worth about $43,000. Summit Securities Group LLC acquired a new stake in shares of Nikola in the 2nd quarter worth about $56,000. ProShare Advisors LLC increased its holdings in shares of Nikola by 29.1% in the 1st quarter. ProShare Advisors LLC now owns 132,744 shares of the company’s stock worth $138,000 after acquiring an additional 29,904 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Nikola in the 2nd quarter worth about $138,000. 37.38% of the stock is currently owned by institutional investors.

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.