J.W. Cole Advisors Inc. Acquires New Holdings in Nikola Co. (NASDAQ:NKLA)

J.W. Cole Advisors Inc. acquired a new stake in Nikola Co. (NASDAQ:NKLAGet Rating) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 14,530 shares of the company’s stock, valued at approximately $91,000.

Several other institutional investors and hedge funds have also modified their holdings of NKLA. Mirae Asset Global Investments Co. Ltd. boosted its position in Nikola by 58.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,511,391 shares of the company’s stock worth $16,187,000 after acquiring an additional 555,260 shares during the last quarter. Vanguard Group Inc. boosted its position in Nikola by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 19,103,856 shares of the company’s stock worth $204,602,000 after acquiring an additional 342,248 shares during the last quarter. Geode Capital Management LLC boosted its position in Nikola by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 4,034,182 shares of the company’s stock worth $39,817,000 after acquiring an additional 325,883 shares during the last quarter. Ergoteles LLC boosted its position in Nikola by 119.5% during the 1st quarter. Ergoteles LLC now owns 367,921 shares of the company’s stock worth $3,940,000 after acquiring an additional 200,268 shares during the last quarter. Finally, Inherent Group LP acquired a new position in Nikola during the 1st quarter worth approximately $2,142,000. 23.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Cowen dropped their price objective on Nikola to $12.50 in a research note on Tuesday, August 9th. BTIG Research upgraded Nikola from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Wednesday, September 14th. Evercore ISI set a $10.00 price objective on Nikola in a research note on Monday, June 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Nikola from $7.00 to $8.00 in a research note on Friday, August 5th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Nikola has an average rating of “Hold” and an average target price of $10.83.

Insiders Place Their Bets

In other news, major shareholder Trevor R. Milton acquired 3,000,000 shares of the stock in a transaction on Wednesday, August 24th. The shares were purchased at an average price of $5.80 per share, for a total transaction of $17,400,000.00. Following the transaction, the insider now directly owns 51,047,726 shares of the company’s stock, valued at $296,076,810.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Nikola news, CEO Mark A. Russell sold 75,000 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $4.57, for a total transaction of $342,750.00. Following the transaction, the chief executive officer now owns 2,812,346 shares in the company, valued at approximately $12,852,421.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Trevor R. Milton bought 3,000,000 shares of Nikola stock in a transaction dated Wednesday, August 24th. The shares were bought at an average cost of $5.80 per share, for a total transaction of $17,400,000.00. Following the completion of the acquisition, the insider now owns 51,047,726 shares in the company, valued at approximately $296,076,810.80. The disclosure for this purchase can be found here. Insiders have sold 226,120 shares of company stock worth $1,141,951 in the last 90 days. Company insiders own 18.30% of the company’s stock.

Nikola Stock Down 6.8 %

NKLA opened at $4.08 on Friday. Nikola Co. has a 1-year low of $3.95 and a 1-year high of $15.56. The stock’s fifty day simple moving average is $5.93 and its 200 day simple moving average is $6.68. The company has a current ratio of 2.15, a quick ratio of 1.95 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1.77 billion, a PE ratio of -2.21 and a beta of 1.39.

Nikola (NASDAQ:NKLAGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.04. The firm had revenue of $18.10 million for the quarter, compared to the consensus estimate of $16.58 million. The firm’s quarterly revenue was up 1710.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) EPS. As a group, research analysts expect that Nikola Co. will post -1.89 earnings per share for the current year.

Nikola Company Profile

(Get Rating)

Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector.

Read More

Want to see what other hedge funds are holding NKLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nikola Co. (NASDAQ:NKLAGet Rating).

Institutional Ownership by Quarter for Nikola (NASDAQ:NKLA)

Receive News & Ratings for Nikola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nikola and related companies with MarketBeat.com's FREE daily email newsletter.