Nikola Sees Unusually Large Options Volume (NASDAQ:NKLA)

Nikola Co. (NASDAQ:NKLA) saw some unusual options trading activity on Tuesday. Traders bought 93,900 put options on the company. This is an increase of 64% compared to the typical daily volume of 57,428 put options.

Institutional Investors Weigh In On Nikola

Several large investors have recently bought and sold shares of the business. Barclays PLC increased its position in Nikola by 121.1% during the third quarter. Barclays PLC now owns 9,475 shares of the company’s stock valued at $43,000 after acquiring an additional 5,190 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Nikola during the fourth quarter valued at $43,000. Wealthfront Advisers LLC purchased a new stake in shares of Nikola during the fourth quarter valued at $76,000. One Wealth Management Investment & Advisory Services LLC purchased a new stake in shares of Nikola during the third quarter valued at $110,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Nikola during the second quarter valued at $138,000. Institutional investors own 37.38% of the company’s stock.

Analyst Ratings Changes

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

Nikola Price Performance

NASDAQ:NKLA traded up $0.09 during trading hours on Tuesday, hitting $0.59. 25,429,524 shares of the stock traded hands, compared to its average volume of 19,351,332. 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 has a 1 year low of $0.43 and a 1 year high of $34.50. The company has a market cap of $36.03 million, a price-to-earnings ratio of -0.04 and a beta of 1.97. The stock has a 50 day moving average price of $1.17 and a 200 day moving average price of $3.72.

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.