One Wealth Management Investment & Advisory Services LLC Makes New Investment in Nikola Co. (NASDAQ:NKLA)

One Wealth Management Investment & Advisory Services LLC bought a new position in shares of Nikola Co. (NASDAQ:NKLA) during the third quarter, Holdings Channel.com reports. The fund bought 24,000 shares of the company’s stock, valued at approximately $110,000.

A number of other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Nikola by 80.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,434 shares of the company’s stock worth $328,000 after buying an additional 34,193 shares during the period. SG Americas Securities LLC boosted its holdings in Nikola by 137.9% in the third quarter. SG Americas Securities LLC now owns 264,773 shares of the company’s stock valued at $1,213,000 after purchasing an additional 153,494 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Nikola in the second quarter valued at approximately $138,000. Nantahala Capital Management LLC acquired a new position in Nikola in the second quarter valued at approximately $819,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Nikola in the second quarter valued at approximately $368,000. 37.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Nikola Trading Up 0.3 %

NASDAQ:NKLA opened at $3.12 on Thursday. The stock has a fifty day moving average price of $4.42 and a two-hundred day moving average price of $9.12. The stock has a market capitalization of $189.91 million, a price-to-earnings ratio of -0.22 and a beta of 2.07. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.94 and a current ratio of 1.17. Nikola Co. has a 1 year low of $2.91 and a 1 year high of $34.80.

Nikola (NASDAQ:NKLA) last released its quarterly earnings data 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). The business had revenue of $25.20 million during the quarter, compared to analysts’ expectations of $37.23 million. Nikola had a negative return on equity of 95.73% and a negative net margin of 840.44%. The company’s revenue for the quarter was up 1382.4% compared to the same quarter last year.

Nikola 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.