Nikola (NKLA) Receives a Hold from Colliers Securities

In a report released today, Michael Shlisky from Colliers Securities maintained a Hold rating on Nikola (NKLAResearch Report). The company’s shares closed last Friday at $11.50, close to its 52-week low of $9.37.

According to TipRanks.com, Shlisky is a 4-star analyst with an average return of 22.2% and a 50.4% success rate. Shlisky covers the Industrial Goods sector, focusing on stocks such as Commercial Vehicle Group, Manitex International, and Alta Equipment Group.

Currently, the analyst consensus on Nikola is a Hold with an average price target of $18.80, an 83.6% upside from current levels. In a report issued on May 7, RBC Capital also maintained a Hold rating on the stock with a $11.00 price target.

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Based on Nikola’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $147 million. In comparison, last year the company earned revenue of $49K and had a GAAP net loss of $26.28 million.

Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NKLA in relation to earlier this year.

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VectoIQ Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. It intends to focus on searching for prospective target businesses to acquire. The company was founded on January 23, 2018 and is headquartered in Mamaroneck, NY.