Nikola Co. (NASDAQ:NKLA) Short Interest Update

Nikola Co. (NASDAQ:NKLA) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 20,840,000 shares, an increase of 54.3% from the November 30th total of 13,510,000 shares. Based on an average daily trading volume, of 7,000,000 shares, the days-to-cover ratio is presently 3.0 days. Approximately 25.7% of the company’s shares are short sold.

Analyst Ratings Changes

Several analysts have weighed in on NKLA shares. TD Cowen dropped their price objective on Nikola from $10.00 to $4.00 and set a “hold” rating for the company in a report on Friday, November 1st. DA Davidson cut their target price on Nikola from $12.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Robert W. Baird lowered their price target on Nikola from $14.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Bryan, Garnier & Co lowered shares of Nikola from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Nikola presently has a consensus rating of “Hold” and an average price target of $12.00.

Institutional Investors Weigh In On Nikola

A number of institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its holdings in Nikola by 121.1% during the 3rd quarter. Barclays PLC now owns 9,475 shares of the company’s stock worth $43,000 after purchasing an additional 5,190 shares during the last quarter. One Wealth Management Investment & Advisory Services LLC bought a new position in Nikola during the 3rd quarter worth $110,000. Sanctuary Advisors LLC acquired a new stake in shares of Nikola during the second quarter worth $138,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Nikola by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,312 shares of the company’s stock valued at $208,000 after acquiring an additional 20,723 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Nikola in the second quarter valued at about $215,000. Institutional investors own 37.38% of the company’s stock.

Nikola Stock Down 3.5 %

NASDAQ:NKLA traded down $0.04 on Monday, hitting $1.11. 7,074,937 shares of the company’s stock were exchanged, compared to its average volume of 4,239,885. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.17 and a quick ratio of 0.94. The firm has a 50-day moving average price of $2.41 and a 200-day moving average price of $5.72. The company has a market cap of $67.56 million, a P/E ratio of -0.08 and a beta of 1.92. Nikola has a 52 week low of $1.08 and a 52 week high of $34.50.

Nikola (NASDAQ:NKLA) last announced its quarterly 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). The business had revenue of $25.20 million for the quarter, compared to analyst estimates of $37.23 million. Nikola had a negative net margin of 840.44% and a negative return on equity of 95.73%. The firm’s revenue for the quarter was up 1382.4% on a year-over-year basis.

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.