SG Americas Securities LLC Sells 63,062 Shares of Nikola Co. (NASDAQ:NKLA)

SG Americas Securities LLC lowered its holdings in Nikola Co. (NASDAQ:NKLA) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,003,322 shares of the company’s stock after selling 63,062 shares during the period. SG Americas Securities LLC owned about 0.20% of Nikola worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NKLA. Vanguard Group Inc. lifted its stake in Nikola by 27.1% in the third quarter. Vanguard Group Inc. now owns 56,706,189 shares of the company’s stock valued at $89,029,000 after acquiring an additional 12,085,830 shares during the last quarter. BlackRock Inc. lifted its stake in Nikola by 81.2% in the second quarter. BlackRock Inc. now owns 43,278,195 shares of the company’s stock valued at $59,724,000 after acquiring an additional 19,389,959 shares during the last quarter. Norges Bank acquired a new stake in Nikola in the fourth quarter valued at $72,536,000. State Street Corp lifted its stake in Nikola by 78.2% in the second quarter. State Street Corp now owns 13,815,909 shares of the company’s stock valued at $19,066,000 after acquiring an additional 6,061,239 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Nikola by 67.6% in the second quarter. Geode Capital Management LLC now owns 11,626,618 shares of the company’s stock valued at $16,045,000 after acquiring an additional 4,690,316 shares during the last quarter. Institutional investors own 37.38% of the company’s stock.

Insider Transactions at Nikola

In other Nikola news, insider Joseph R. Pike sold 75,162 shares of Nikola stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $0.68, for a total value of $51,110.16. Following the completion of the sale, the insider now owns 429,790 shares in the company, valued at approximately $292,257.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is currently owned by corporate insiders.

Nikola Stock Performance

NASDAQ NKLA opened at $1.04 on Friday. The firm has a 50-day moving average of $0.71 and a 200-day moving average of $0.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.96 and a current ratio of 2.20. The stock has a market cap of $1.39 billion, a PE ratio of -0.83 and a beta of 1.95. Nikola Co. has a 52-week low of $0.52 and a 52-week high of $3.71.

Nikola (NASDAQ:NKLA) last posted its earnings results on Thursday, February 22nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $11.53 million during the quarter, compared to analysts’ expectations of $14.52 million. Nikola had a negative net margin of 1,475.52% and a negative return on equity of 122.20%. During the same quarter last year, the company posted ($0.46) EPS. On average, sell-side analysts anticipate that Nikola Co. will post -0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NKLA. Robert W. Baird began coverage on shares of Nikola in a research note on Wednesday, January 24th. They issued an “outperform” rating and a $2.00 price target for the company. DA Davidson reiterated a “neutral” rating and issued a $1.00 price target on shares of Nikola in a research note on Tuesday, March 5th.

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.