Nikola Co. (NASDAQ:NKLA) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC grew its position in shares of Nikola Co. (NASDAQ:NKLA) by 193.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,523 shares of the company’s stock after acquiring an additional 92,612 shares during the quarter. Tidal Investments LLC owned about 0.23% of Nikola worth $644,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NKLA. Barclays PLC raised its holdings in Nikola by 121.1% in the third quarter. Barclays PLC now owns 9,475 shares of the company’s stock valued at $43,000 after buying an additional 5,190 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Nikola in the second quarter worth $56,000. Sanctuary Advisors LLC purchased a new position in shares of Nikola in the 2nd quarter valued at $138,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nikola by 84.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,312 shares of the company’s stock worth $208,000 after purchasing an additional 20,723 shares during the period. Finally, One Wealth Management Investment & Advisory Services LLC acquired a new stake in Nikola in the 3rd quarter valued at $110,000. 37.38% of the stock is currently owned by hedge funds and other institutional investors.

Nikola Price Performance

Shares of NASDAQ NKLA opened at $1.18 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $2.70 and a two-hundred day moving average of $6.34. Nikola Co. has a twelve month low of $1.12 and a twelve month high of $34.50. The company has a market capitalization of $71.82 million, a price-to-earnings ratio of -0.08 and a beta of 1.92.

Nikola (NASDAQ:NKLA) last posted its quarterly earnings data 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 company had revenue of $25.20 million for 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%. The business’s revenue was up 1382.4% on a year-over-year basis.

Wall Street Analyst Weigh In

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