Nikola Co. (NASDAQ:NKLA) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its position in Nikola Co. (NASDAQ:NKLA) by 41.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,292 shares of the company’s stock after selling 59,333 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Nikola were worth $73,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Wealth Alliance LLC acquired a new stake in shares of Nikola in the 3rd quarter valued at $25,000. Silicon Valley Capital Partners acquired a new stake in shares of Nikola in the 3rd quarter valued at $30,000. Marathon Trading Investment Management LLC acquired a new stake in shares of Nikola in the 3rd quarter valued at $33,000. Rathbones Group PLC acquired a new stake in shares of Nikola in the 3rd quarter valued at $46,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Nikola in the 3rd quarter valued at $51,000. 37.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Nikola Stock Up 7.2 %

Shares of NASDAQ:NKLA opened at $0.64 on Friday. The company’s fifty day moving average price is $0.75 and its 200 day moving average price is $0.84. Nikola Co. has a 12 month low of $0.52 and a 12 month high of $3.71. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.37.

Nikola (NASDAQ:NKLA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $11.53 million for the quarter, compared to analysts’ expectations of $14.52 million. During the same period in the previous year, the business posted ($0.46) earnings per share. On average, equities research analysts anticipate that Nikola Co. will post -0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NKLA. Wolfe Research began coverage on shares of Nikola in a research note on Tuesday, April 9th. They set a “peer perform” rating on the stock. DA Davidson reiterated a “neutral” rating and set a $1.00 price target on shares of Nikola in a research note on Tuesday, March 5th. Finally, Robert W. Baird began coverage on shares of Nikola in a research note on Wednesday, January 24th. They set an “outperform” rating and a $2.00 price target on the 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.