Nikola Sees Unusually High Options Volume (NASDAQ:NKLA)

Nikola Co. (NASDAQ:NKLA - Get Free Report) was the recipient of some unusual options trading on Friday. Traders purchased 75,258 call options on the company. This is an increase of approximately 88% compared to the typical daily volume of 40,111 call options.

Analyst Upgrades and Downgrades

NKLA has been the subject of several recent research reports. Bryan, Garnier & Co downgraded Nikola from a "buy" rating to a "neutral" rating in a research report on Thursday, November 7th. TD Cowen dropped their price objective on Nikola from $10.00 to $4.00 and set a "hold" rating for the company in a research report on Friday, November 1st. DA Davidson cut their target price on shares of Nikola from $12.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, November 11th. Finally, Robert W. Baird decreased their price target on shares of Nikola from $14.00 to $10.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.00.

Nikola Trading Up 0.9 %

Shares of NASDAQ:NKLA traded up $0.01 during midday trading on Friday, reaching $1.15. The company's stock had a trading volume of 10,245,013 shares, compared to its average volume of 4,228,356. The firm has a market cap of $70.00 million, a price-to-earnings ratio of -0.08 and a beta of 1.92. The business has a 50 day moving average price of $2.41 and a 200 day moving average price of $5.85. Nikola has a 1 year low of $1.08 and a 1 year high of $34.50. 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 (NASDAQ:NKLA - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported ($2.75) earnings per share (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 company had revenue of $25.20 million during the quarter, compared to analyst estimates of $37.23 million. Nikola's revenue was up 1382.4% compared to the same quarter last year.

Institutional Trading of Nikola

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 53,966 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Nikola in the 2nd quarter worth about $2,214,000. SG Americas Securities LLC lifted its stake in shares of Nikola by 137.9% in the 3rd quarter. SG Americas Securities LLC now owns 264,773 shares of the company's stock valued at $1,213,000 after purchasing an additional 153,494 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Nikola by 193.3% during the 3rd quarter. Tidal Investments LLC now owns 140,523 shares of the company's stock worth $644,000 after purchasing an additional 92,612 shares during the period. Finally, Nantahala Capital Management LLC acquired a new stake in Nikola during the 2nd quarter worth approximately $819,000. 37.38% of the stock is owned by hedge funds and other institutional investors.

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.