Short Interest in Nikola Co. (NASDAQ:NKLA) Decreases By 96.6%

Nikola Co. (NASDAQ:NKLA - Get Free Report) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 9,040,000 shares, a drop of 96.6% from the May 31st total of 267,190,000 shares. Based on an average daily trading volume, of 3,160,000 shares, the short-interest ratio is presently 2.9 days.

Wall Street Analysts Forecast Growth

• 3 Most Active Penny Stocks: Buy, Sell, or Hold

Several research firms recently commented on NKLA. DA Davidson reiterated a "neutral" rating and set a $30.00 target price on shares of Nikola in a research note on Wednesday, June 12th. Wolfe Research started coverage on shares of Nikola in a research report on Tuesday, April 9th. They set a "peer perform" rating for the company. Finally, Bryan, Garnier & Co began coverage on Nikola in a research report on Thursday, May 16th. They set a "buy" rating and a $30.00 target price on the stock.

View Our Latest Report on Nikola

Insider Buying and Selling at Nikola

• BEVs are out, hybrids are in; here’s where to invest

In other news, CEO Stephen J. Girsky acquired 33,333 shares of Nikola stock in a transaction dated Monday, May 20th. The stock was acquired at an average cost of $16.20 per share, for a total transaction of $539,994.60. Following the completion of the purchase, the chief executive officer now owns 241,433 shares of the company's stock, valued at $3,911,214.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.74% of the company's stock.

Institutional Investors Weigh In On Nikola

Large investors have recently modified their holdings of the stock. Diversify Advisory Services LLC acquired a new stake in Nikola in the 1st quarter valued at $43,000. Tower Research Capital LLC TRC lifted its holdings in shares of Nikola by 162.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company's stock valued at $43,000 after acquiring an additional 30,490 shares during the period. Seaview Investment Managers LLC boosted its stake in shares of Nikola by 78.3% in the 4th quarter. Seaview Investment Managers LLC now owns 68,333 shares of the company's stock valued at $60,000 after purchasing an additional 30,000 shares in the last quarter. Cantor Fitzgerald L. P. grew its holdings in shares of Nikola by 817.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 93,244 shares of the company's stock worth $82,000 after purchasing an additional 83,081 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Nikola by 55.7% during the 4th quarter. Victory Capital Management Inc. now owns 123,022 shares of the company's stock worth $108,000 after purchasing an additional 43,985 shares in the last quarter. 37.38% of the stock is currently owned by institutional investors.

Nikola Stock Performance

• $7 Billion in Clean Hydrogen Grants: Winners and Losers

Nikola stock traded down $1.37 on Thursday, hitting $8.55. The company's stock had a trading volume of 7,750,917 shares, compared to its average volume of 3,120,137. Nikola has a one year low of $8.02 and a one year high of $111.30. The firm has a market cap of $386.23 million, a P/E ratio of -0.27 and a beta of 2.11. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average price of $16.01 and a 200-day moving average price of $20.49.

Nikola (NASDAQ:NKLA - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($3.00) earnings per share for the quarter, meeting analysts' consensus estimates of ($3.00). The business had revenue of $7.50 million during the quarter, compared to the consensus estimate of $15.05 million.

Nikola Company Profile

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.

Featured Articles

• Five stocks we like better than Nikola
• Dividend Payout Ratio Calculator
• BlackBerry Stock: Strong Earnings, Profitability Challenges Ahead
• What is a Death Cross in Stocks?
• Progress Software Stock Back in the Green After Beating Forecasts
• What is a Secondary Public Offering? What Investors Need to Know
• Goldman Sachs Raises Stock Target for Affirm: Key Insights

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ Buy this small stock before coming AI Tidal Wave (From Chaikin Analytics) (Ad)

Should you invest $1,000 in Nikola right now?

Before you consider Nikola, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nikola wasn't on the list.

While Nikola currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here