Traders Buy High Volume of Call Options on Nikola (NASDAQ:NKLA)

Nikola Co. (NASDAQ:NKLAGet Free Report) was the target of some unusual options trading activity on Monday. Stock traders bought 125,047 call options on the stock. This is an increase of approximately 164% compared to the average daily volume of 47,381 call options.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NKLA shares. Bryan, Garnier & Co lowered Nikola from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. TD Cowen dropped their price target on shares of Nikola from $10.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Robert W. Baird cut their price objective on Nikola from $14.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, DA Davidson dropped their target price on shares of Nikola from $12.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. 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 currently has an average rating of “Hold” and an average target price of $12.00.

Check Out Our Latest Analysis on Nikola

Institutional Investors Weigh In On Nikola

Several institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC increased its holdings in shares of Nikola by 193.3% in the third quarter. Tidal Investments LLC now owns 140,523 shares of the company’s stock valued at $644,000 after purchasing an additional 92,612 shares during the period. Barclays PLC increased its stake in shares of Nikola by 121.1% in the 3rd quarter. Barclays PLC now owns 9,475 shares of the company’s stock valued at $43,000 after purchasing an additional 5,190 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Nikola by 11.5% in the third quarter. Geode Capital Management LLC now owns 524,731 shares of the company’s stock valued at $2,404,000 after buying an additional 53,966 shares in the last quarter. XTX Topco Ltd acquired a new position in Nikola during the third quarter worth $326,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Nikola during the 3rd quarter worth about $336,000. Institutional investors and hedge funds own 37.38% of the company’s stock.

Nikola Stock Performance

Shares of NASDAQ:NKLA opened at $1.12 on Wednesday. The company has a market capitalization of $68.17 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 has a 52 week low of $1.07 and a 52 week high of $34.50. The firm has a 50 day moving average of $1.73 and a 200 day moving average of $4.84.

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

Nikola Company Profile

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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.

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