Nikola (NASDAQ:NKLA) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Nikola (NASDAQ:NKLA) announced its quarterly earnings results on Friday. The company reported ($2.67) earnings per share for the quarter, topping the consensus estimate of ($2.78) by $0.11, Briefing.com reports. The business had revenue of $31.10 million during the quarter, compared to the consensus estimate of $26.19 million. During the same quarter in the prior year, the firm posted ($7.21) EPS. The company’s revenue for the quarter was up 101.9% on a year-over-year basis.

Nikola Trading Up 8.2 %

NKLA stock opened at $8.44 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. Nikola has a twelve month low of $7.02 and a twelve month high of $65.10. The stock has a market capitalization of $381.23 million, a price-to-earnings ratio of -0.27 and a beta of 2.09. The firm’s fifty day simple moving average is $10.62 and its two-hundred day simple moving average is $17.19.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NKLA shares. Bryan, Garnier & Co started coverage on shares of Nikola in a research report on Thursday, May 16th. They issued a “buy” rating and a $30.00 price target on the stock. DA Davidson reiterated a “neutral” rating and set a $30.00 price objective on shares of Nikola in a research report on Wednesday, June 12th.

Insider Activity

In related news, CEO Stephen J. Girsky bought 33,333 shares of the stock in a transaction dated Monday, May 20th. The stock was purchased at an average cost of $16.20 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Nikola news, CEO Stephen J. Girsky acquired 33,333 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average cost of $16.20 per share, with a total value of $539,994.60. Following the completion of the purchase, the chief executive officer now directly owns 241,433 shares in the company, valued at $3,911,214.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Girsky sold 4,636 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $7.75, for a total transaction of $35,929.00. Following the completion of the transaction, the chief executive officer now owns 238,311 shares of the company’s stock, valued at $1,846,910.25. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

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.