Nikola Co. (NASDAQ:NKLA) Given Average Rating of “Hold” by Analysts

Nikola Co. (NASDAQ:NKLA) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $35.86.

NKLA has been the topic of a number of research reports. Colliers Securities initiated coverage on Nikola in a research report on Wednesday, December 16th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded Nikola from a “sell” rating to a “hold” rating in a research report on Saturday, November 14th. Wedbush upgraded Nikola from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $15.00 to $25.00 in a research report on Monday, February 1st. Loop Capital initiated coverage on Nikola in a research report on Thursday, November 19th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Evercore ISI began coverage on Nikola in a research report on Tuesday, December 15th. They set an “in-line” rating and a $20.00 price objective on the stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Nikola in the 3rd quarter valued at about $31,000. Signaturefd LLC grew its position in shares of Nikola by 30,000.0% in the 3rd quarter. Signaturefd LLC now owns 1,505 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Nikola in the 4th quarter valued at about $31,000. Winslow Evans & Crocker Inc. boosted its position in shares of Nikola by 126.8% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 2,325 shares of the company’s stock valued at $35,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its position in shares of Nikola by 332.7% during the 4th quarter. Jacobi Capital Management LLC now owns 2,380 shares of the company’s stock valued at $36,000 after purchasing an additional 1,830 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

NKLA stock traded down $1.25 during midday trading on Tuesday, reaching $19.67. 311,151 shares of the stock were exchanged, compared to its average volume of 15,525,611. Nikola has a 52 week low of $10.34 and a 52 week high of $93.99. The company has a fifty day moving average price of $21.07 and a 200 day moving average price of $24.84.

Nikola Company Profile

Nikola Corporation operates as an integrated zero emissions transportation systems provider. It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure. The company also develops electric vehicle solutions for military and outdoor recreational applications.

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Analyst Recommendations for Nikola (NASDAQ:NKLA)

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