Tower Research Capital LLC TRC Boosts Stake in Nikola Co. (NASDAQ:NKLA)

Tower Research Capital LLC TRC lifted its holdings in Nikola Co. (NASDAQ:NKLA) by 162.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,304 shares of the company’s stock after buying an additional 30,490 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Nikola were worth $43,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

NKLA has been the subject of several research reports. DA Davidson reaffirmed a “neutral” rating and set a $1.00 price objective on shares of Nikola in a report on Tuesday, March 5th. Wolfe Research initiated coverage on Nikola in a report on Tuesday, April 9th. They set a “peer perform” rating for the company. Finally, Robert W. Baird initiated coverage on Nikola in a report on Wednesday, January 24th. They set an “outperform” rating and a $2.00 price objective for the company.

Nikola Price Performance

Shares of NASDAQ NKLA traded up $0.01 during trading on Thursday, reaching $0.61. The company had a trading volume of 57,890,576 shares, compared to its average volume of 94,953,258. Nikola Co. has a twelve month low of $0.52 and a twelve month high of $3.71. The stock has a market capitalization of $830.66 million, a PE ratio of -0.48 and a beta of 2.10. The stock has a 50-day moving average price of $0.74 and a two-hundred day moving average price of $0.82. 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 released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $11.53 million during the quarter, compared to analyst estimates of $14.52 million. During the same period last year, the firm earned ($0.46) earnings per share. As a group, sell-side analysts predict that Nikola Co. will post -0.44 earnings per share for the current year.

Insider Transactions at Nikola

In other news, insider Joseph R. Pike sold 75,162 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $0.68, for a total value of $51,110.16. Following the completion of the transaction, the insider now directly owns 429,790 shares of the company’s stock, valued at $292,257.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Nikola 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.