Nikola Sees Unusually Large Options Volume (NASDAQ:NKLA)

Nikola Co. (NASDAQ:NKLA) was the target of unusually large options trading activity on Monday. Stock traders acquired 125,047 call options on the company. This is an increase of approximately 164% compared to the typical daily volume of 47,381 call options.

Analyst Ratings Changes

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

Nikola Trading Down 3.4 %

Shares of Nikola stock opened at $1.14 on Tuesday. The business has a fifty day simple moving average of $1.77 and a 200-day simple moving average of $4.89. Nikola has a fifty-two week low of $1.07 and a fifty-two week high of $34.50. The firm has a market cap of $69.39 million, a price-to-earnings ratio of -0.08 and a beta of 1.99. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.71.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC increased its stake 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 purchasing an additional 5,190 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Nikola in the second quarter worth approximately $138,000. One Wealth Management Investment & Advisory Services LLC acquired a new stake in shares of Nikola during the third quarter valued at approximately $110,000. Point72 DIFC Ltd purchased a new stake in shares of Nikola in the 2nd quarter valued at approximately $215,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Nikola in the 2nd quarter valued at approximately $368,000. Institutional investors own 37.38% of the company’s stock.

About Nikola

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.