Susquehanna Fundamental Investments LLC Invests $368,000 in Nikola Co. (NASDAQ:NKLA)

Susquehanna Fundamental Investments LLC purchased a new position in Nikola Co. (NASDAQ:NKLA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,942 shares of the company’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Nikola by 4.0% during the first quarter. Vanguard Group Inc. now owns 80,262,859 shares of the company’s stock worth $83,473,000 after purchasing an additional 3,117,074 shares during the period. Van ECK Associates Corp raised its stake in Nikola by 65.4% during the first quarter. Van ECK Associates Corp now owns 10,695,472 shares of the company’s stock worth $11,123,000 after purchasing an additional 4,229,114 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Nikola by 10.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,646,363 shares of the company’s stock worth $4,832,000 after purchasing an additional 454,804 shares during the period. SG Americas Securities LLC raised its stake in Nikola by 90.3% during the first quarter. SG Americas Securities LLC now owns 3,812,396 shares of the company’s stock worth $3,965,000 after purchasing an additional 1,809,074 shares during the period. Finally, Swiss National Bank raised its stake in Nikola by 5.7% during the first quarter. Swiss National Bank now owns 2,171,500 shares of the company’s stock worth $2,258,000 after purchasing an additional 117,700 shares during the period. 37.38% of the stock is owned by hedge funds and other institutional investors.

Nikola Price Performance

Nikola stock opened at $5.20 on Friday. The company’s 50 day simple moving average is $6.64 and its 200-day simple moving average is $13.18. The company has a market capitalization of $234.90 million, a price-to-earnings ratio of -0.17 and a beta of 2.06. Nikola Co. has a 1 year low of $4.10 and a 1 year high of $45.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.31 and a current ratio of 1.53.

Nikola (NASDAQ:NKLA) last released its quarterly earnings results on Friday, August 9th. The company reported ($2.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.78) by $0.11. The company had revenue of $31.10 million during the quarter, compared to analysts’ expectations of $26.19 million. Nikola’s revenue was up 101.9% on a year-over-year basis. During the same period last year, the firm posted ($7.21) earnings per share.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Stephen J. Girsky sold 4,636 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $7.75, for a total value of $35,929.00. Following the sale, the chief executive officer now directly owns 238,311 shares of the company’s stock, valued at approximately $1,846,910.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.74% of the company’s stock.

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.