Nikola (NASDAQ:NKLA) Given New $10.00 Price Target at Robert W. Baird

Nikola (NASDAQ:NKLA) had its price objective trimmed by Robert W. Baird from $14.00 to $10.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Separately, DA Davidson dropped their target price on Nikola from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Nikola Price Performance

NASDAQ NKLA opened at $3.29 on Friday. The stock has a 50-day simple moving average of $4.89 and a 200 day simple moving average of $9.82. Nikola has a twelve month low of $3.24 and a twelve month high of $36.30. The stock has a market capitalization of $166.46 million, a PE ratio of -0.23 and a beta of 2.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.31 and a current ratio of 1.53.

Nikola (NASDAQ:NKLA) last posted 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). Nikola had a negative return on equity of 86.68% 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. The business’s revenue for the quarter was up 1382.4% on a year-over-year basis.

Institutional Trading of Nikola

Several hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nikola by 80.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,434 shares of the company’s stock worth $328,000 after acquiring an additional 34,193 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Nikola by 137.9% during the 3rd quarter. SG Americas Securities LLC now owns 264,773 shares of the company’s stock worth $1,213,000 after buying an additional 153,494 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Nikola during the second quarter worth $138,000. Nantahala Capital Management LLC acquired a new position in shares of Nikola during the second quarter valued at $819,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Nikola in the second quarter valued at about $368,000. Institutional investors and hedge funds own 37.38% 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.