Nikola (NASDAQ:NKLA) Releases Earnings Results

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

Nikola Trading Up 8.2 %

NASDAQ NKLA traded up $0.64 during trading on Friday, reaching $8.44. 7,670,632 shares of the stock traded hands, compared to its average volume of 3,279,221. The firm has a market cap of $381.23 million, a price-to-earnings ratio of -0.27 and a beta of 2.09. The stock’s 50-day moving average price is $10.62 and its 200 day moving average price is $17.24. 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 fifty-two week low of $7.02 and a fifty-two week high of $65.10.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Bryan, Garnier & Co assumed coverage on shares of Nikola in a research note on Thursday, May 16th. They set a “buy” rating and a $30.00 price target for the company. DA Davidson reissued a “neutral” rating and set a $30.00 price target on shares of Nikola in a research note on Wednesday, June 12th.

Insider Activity at Nikola

In related news, CEO Stephen J. Girsky sold 4,636 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 in the company, valued at $1,846,910.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Stephen J. Girsky purchased 33,333 shares of Nikola stock in a transaction dated Monday, May 20th. The stock was bought at an average price of $16.20 per share, for a total transaction of $539,994.60. Following the completion of the acquisition, the chief executive officer now directly owns 241,433 shares of the company’s stock, valued at $3,911,214.60. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen J. Girsky sold 4,636 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 approximately $1,846,910.25. The disclosure for this sale can be found here. Corporate 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.