Nikola (NASDAQ:NKLA) Cut to Neutral at Bryan, Garnier & Co

Bryan, Garnier & Co downgraded shares of Nikola (NASDAQ:NKLA) from a buy rating to a neutral rating in a report published on Thursday morning, Marketbeat reports.

NKLA has been the subject of several other reports. Robert W. Baird dropped their price target on Nikola from $14.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. TD Cowen lowered their target price on shares of Nikola from $10.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, DA Davidson cut 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. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.50.

Nikola Price Performance

Shares of NKLA stock opened at $3.02 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.94 and a current ratio of 1.17. The company’s fifty day moving average price is $4.60 and its 200-day moving average price is $9.44. Nikola has a one year low of $2.91 and a one year high of $34.80.

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

Institutional Trading of Nikola

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Nikola by 137.9% during the 3rd quarter. SG Americas Securities LLC now owns 264,773 shares of the company’s stock valued at $1,213,000 after acquiring an additional 153,494 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Nikola during the second quarter valued at $2,214,000. Nantahala Capital Management LLC bought a new position in Nikola during the second quarter valued at $819,000. Sanctuary Advisors LLC purchased a new position in shares of Nikola in the 2nd quarter worth $138,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Nikola in the 2nd quarter worth about $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.