Nikola Co. (NASDAQ: NKLA – Get a rating) – Wedbush Research analysts released their first-quarter 2023 earnings per share (EPS) estimates for Nikola shares in a research note released to investors on Thursday, April 7. Wedbush analyst D. Ives expects the company to post earnings of ($0.33) per share for the quarter. Wedbush has a “Neutral” rating on the title. Wedbush also released estimates for Nikola’s Q2 2023 earnings at ($0.31) EPS, Q3 2023 earnings at ($0.27) EPS and Q4 2023 earnings at ($0.25) EPS. .
Other equity research analysts have also recently released reports on the company. Zacks Investment Research upgraded Nikola from a “hold” rating to a “buy” rating and set a price target of $8.75 for the company in a Wednesday, March 2 research note. Royal Bank of Canada reduced its price target on Nikola from $11.00 to $8.00 and set an “industry performance” rating for the company in a Friday, February 25 research note. JPMorgan Chase & Co. cut its price target on Nikola from $12.00 to $10.00 and set a “neutral” rating for the company in a Friday, Feb. 25 research note. Deutsche Bank Aktiengesellschaft cut its price target on Nikola from $19.00 to $11.00 and set a “hold” rating for the company in a Friday, February 25 research note. Finally, Cowen reduced his price target on Nikola from $25.00 to $15.00 and set an “outperform” rating for the company in a Friday, February 25 research note. Six investment analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat.com, Nikola currently has an average rating of “Hold” and an average price target of $11.72.
Nikola Stock opened at $8.43 on Monday. The company has a 50-day simple moving average of $8.41 and a two-hundred-day simple moving average of $9.86. The company has a market capitalization of $3.52 billion, a P/E ratio of -4.84 and a beta of 0.84. Nikola has a 52-week low of $6.41 and a 52-week high of $19.52. The company has a quick ratio of 2.84, a current ratio of 2.91 and a leverage ratio of 0.04.
Nicholas (NASDAQ: NKLA – Get a rating) last released its quarterly results on Thursday, February 24. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks consensus estimate of ($0.46) by $0.23. During the same period of the previous year, the company achieved EPS of ($0.38).
In related news, Insider Pablo M. Koziner sold 50,579 shares of the company in a transaction that took place on Tuesday, January 18. The stock was sold at an average price of $9.89, for a total value of $500,226.31. The transaction was disclosed in a legal filing with the SEC, which is available via this link. 22.80% of the shares are currently held by insiders.
Several institutional investors and hedge funds have recently changed their holdings in NKLA. Wells Fargo & Company MN increased its stake in Nikola shares by 47.6% during the 2nd quarter. Wells Fargo & Company MN now owns 104,720 shares of the company worth $1,891,000 after acquiring 33,793 additional shares in the last quarter. Morgan Stanley increased its holdings of Nikola shares by 54.8% during the 2nd quarter. Morgan Stanley now owns 694,697 shares of the company worth $12,546,000 after acquiring an additional 245,832 shares last quarter. Parametric Portfolio Associates LLC purchased a new stake in Nikola stock during Q2 worth approximately $703,000. Private Advisor Group LLC bought a new stock position in Nikola during Q3, valued at approximately $112,000. Finally, Kestra Advisory Services LLC increased its position in Nikola shares by 62.7% during the 3rd quarter. Kestra Advisory Services LLC now owns 112,588 shares of the company valued at $1,201,000 after purchasing an additional 43,385 shares in the last quarter. 43.70% of the shares are currently held by institutional investors and hedge funds.
About Nicholas (Get a 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 markets hydrogen and battery electric semi-trailers for the trucking sector.
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