Nikola (NASDAQ:NKLA) Shares Down 2.1%

Nikola Co. (NASDAQ:NKLA) shares fell 2.1% during trading on Tuesday . The stock traded as low as $4.68 and last traded at $4.68. 2,548,889 shares were traded during trading, a decline of 19% from the average session volume of 3,150,846 shares. The stock had previously closed at $4.78.

Analyst Upgrades and Downgrades

Separately, DA Davidson reduced their price target on Nikola from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th.

Nikola Trading Down 3.2 %

The stock has a market cap of $211.51 million, a price-to-earnings ratio of -0.13 and a beta of 2.08. The business’s 50 day moving average is $7.03 and its 200 day moving average is $13.62. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.53 and a quick ratio of 1.31.

Nikola (NASDAQ:NKLA) last posted its earnings results on Friday, August 9th. The company reported ($2.67) earnings per share for the quarter, topping the consensus estimate of ($2.78) by $0.11. The business had revenue of $31.10 million for the quarter, compared to analysts’ expectations of $26.19 million. During the same quarter in the previous year, the firm earned ($7.21) EPS. Nikola’s revenue for the quarter was up 101.9% compared to the same quarter last year.

Insider Buying and Selling at Nikola

In other news, CEO Stephen J. Girsky sold 4,636 shares of Nikola stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $7.75, for a total transaction of $35,929.00. Following the sale, the chief executive officer now owns 238,311 shares in the company, valued at $1,846,910.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Nikola by 28.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,754,602 shares of the company’s stock valued at $5,909,000 after buying an additional 1,512,542 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Nikola by 55.7% during the fourth quarter. Victory Capital Management Inc. now owns 123,022 shares of the company’s stock worth $108,000 after purchasing an additional 43,985 shares in the last quarter. Capstone Investment Advisors LLC boosted its holdings in Nikola by 368.1% in the 4th quarter. Capstone Investment Advisors LLC now owns 241,294 shares of the company’s stock valued at $211,000 after purchasing an additional 189,751 shares in the last quarter. Cantor Fitzgerald L. P. raised its stake in shares of Nikola by 817.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 93,244 shares of the company’s stock worth $82,000 after buying an additional 83,081 shares in the last quarter. Finally, Krane Funds Advisors LLC lifted its holdings in shares of Nikola by 7.4% in the 4th quarter. Krane Funds Advisors LLC now owns 419,671 shares of the company’s stock valued at $367,000 after buying an additional 29,016 shares during the period. 37.38% of the stock is currently owned by hedge funds and other institutional investors.

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.