Nikola Co. (NASDAQ:NKLA) Stock Position Cut by Centiva Capital LP

Centiva Capital LP trimmed its stake in shares of Nikola Co. (NASDAQ:NKLA) by 47.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,582 shares of the company’s stock after selling 50,848 shares during the quarter. Centiva Capital LP owned about 0.09% of Nikola worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NKLA. Unique Wealth Strategies LLC bought a new position in shares of Nikola during the 2nd quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in Nikola during the second quarter valued at approximately $56,000. One Wealth Management Investment & Advisory Services LLC bought a new stake in Nikola during the third quarter worth approximately $110,000. Sanctuary Advisors LLC acquired a new position in Nikola in the second quarter worth approximately $138,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Nikola by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,312 shares of the company’s stock valued at $208,000 after buying an additional 20,723 shares in the last quarter. 37.38% of the stock is owned by institutional investors and hedge funds.

Nikola Trading Up 1.3 %

Shares of NASDAQ NKLA opened at $1.59 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.71. Nikola Co. has a one year low of $1.40 and a one year high of $34.50. The business has a 50-day moving average price of $3.17 and a two-hundred day moving average price of $6.97. The firm has a market capitalization of $96.78 million, a PE ratio of -0.11 and a beta of 1.92.

Nikola (NASDAQ:NKLA) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($2.75) earnings per share for the quarter, missing the consensus estimate of ($2.24) by ($0.51). Nikola had a negative net margin of 840.44% and a negative return on equity of 95.73%. The business had revenue of $25.20 million for the quarter, compared to the consensus estimate of $37.23 million. The firm’s revenue was up 1382.4% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NKLA. TD Cowen decreased their target price on Nikola from $10.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Bryan, Garnier & Co cut Nikola from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird reduced their price objective on shares of Nikola from $14.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, DA Davidson dropped their target price 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. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

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.