Nikola Target of Unusually Large Options Trading (NASDAQ:NKLA)

Nikola Co. (NASDAQ:NKLA) was the recipient of unusually large options trading activity on Tuesday. Investors acquired 93,900 put options on the company. This is an increase of 64% compared to the typical volume of 57,428 put options.

Nikola Trading Up 3.8 %

Shares of Nikola stock opened at $0.69 on Thursday. Nikola has a 12-month low of $0.43 and a 12-month high of $34.50. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $1.13 and its 200-day moving average is $3.64. The stock has a market cap of $42.14 million, a P/E ratio of -0.05 and a beta of 1.97.

Analyst Upgrades and Downgrades

NKLA has been the subject of a number of research reports. Bryan, Garnier & Co downgraded Nikola from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird lowered their price objective on shares of Nikola from $14.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. DA Davidson cut their price objective on shares of Nikola from $12.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, TD Cowen decreased their target price on shares of Nikola from $10.00 to $4.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.00.

Institutional Trading of Nikola

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Nikola by 14.3% in the 4th quarter. Geode Capital Management LLC now owns 599,838 shares of the company’s stock valued at $714,000 after acquiring an additional 75,107 shares during the period. Norges Bank bought a new position in Nikola during the fourth quarter worth about $4,219,000. Wealthfront Advisers LLC acquired a new position in Nikola during the fourth quarter worth approximately $76,000. Charles Schwab Investment Management Inc. lifted its position in shares of Nikola by 113.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 478,171 shares of the company’s stock valued at $569,000 after buying an additional 254,044 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Nikola in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 37.38% of the company’s stock.

About Nikola

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.