Tower Research Capital LLC TRC Raises Stock Holdings in Nikola Co. (NASDAQ:NKLA)

Tower Research Capital LLC TRC increased its position in Nikola Co. (NASDAQ:NKLA) by 162.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,304 shares of the company’s stock after buying an additional 30,490 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Nikola were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nikola by 43.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,242,060 shares of the company’s stock valued at $8,230,000 after buying an additional 1,577,112 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Nikola by 5.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,369,619 shares of the company’s stock worth $2,150,000 after purchasing an additional 75,880 shares in the last quarter. Swiss National Bank boosted its stake in Nikola by 14.6% in the 3rd quarter. Swiss National Bank now owns 1,260,400 shares of the company’s stock worth $1,979,000 after purchasing an additional 160,700 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nikola by 27.1% in the 3rd quarter. Vanguard Group Inc. now owns 56,706,189 shares of the company’s stock worth $89,029,000 after purchasing an additional 12,085,830 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Nikola by 22.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 729,059 shares of the company’s stock worth $638,000 after purchasing an additional 135,041 shares in the last quarter. Institutional investors own 37.38% of the company’s stock.

Insider Activity

In related news, insider Joseph R. Pike sold 75,162 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $0.68, for a total transaction of $51,110.16. Following the sale, the insider now owns 429,790 shares in the company, valued at approximately $292,257.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

NKLA has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on Nikola in a research report on Tuesday, April 9th. They issued a “peer perform” rating for the company. Robert W. Baird initiated coverage on Nikola in a research report on Wednesday, January 24th. They issued an “outperform” rating and a $2.00 target price for the company. Finally, DA Davidson reissued a “neutral” rating and issued a $1.00 target price on shares of Nikola in a research report on Tuesday, March 5th.

Nikola Price Performance

NKLA stock traded up $0.01 during midday trading on Thursday, hitting $0.61. The company’s stock had a trading volume of 57,890,576 shares, compared to its average volume of 94,953,258. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $830.66 million, a price-to-earnings ratio of -0.48 and a beta of 2.10. Nikola Co. has a 12 month low of $0.52 and a 12 month high of $3.71. The company has a 50 day moving average of $0.74 and a two-hundred day moving average of $0.82.

Nikola (NASDAQ:NKLA) last posted its earnings results on Thursday, February 22nd. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $11.53 million for the quarter, compared to the consensus estimate of $14.52 million. During the same quarter in the prior year, the company posted ($0.46) earnings per share. On average, analysts expect that Nikola Co. will post -0.44 EPS for the current year.

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.