Nikola Co. (NASDAQ:NKLA) Shares Acquired by Krane Funds Advisors LLC

Krane Funds Advisors LLC lifted its position in Nikola Co. (NASDAQ:NKLA) by 7.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 419,671 shares of the company’s stock after acquiring an additional 29,016 shares during the period. Krane Funds Advisors LLC’s holdings in Nikola were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of 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 acquiring an additional 1,512,542 shares during the period. Victory Capital Management Inc. increased its position in shares of Nikola by 55.7% in the 4th quarter. Victory Capital Management Inc. now owns 123,022 shares of the company’s stock valued at $108,000 after acquiring an additional 43,985 shares during the period. Swiss National Bank increased its position in shares of Nikola by 14.6% in the 3rd quarter. Swiss National Bank now owns 1,260,400 shares of the company’s stock valued at $1,979,000 after acquiring an additional 160,700 shares during the period. Norges Bank acquired a new position in shares of Nikola in the 4th quarter valued at $93,633,000. Finally, Capstone Investment Advisors LLC increased its position in shares of 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 acquiring an additional 189,751 shares during the period. 37.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bryan, Garnier & Co assumed coverage on Nikola in a research report on Thursday, May 16th. They issued a “buy” rating and a $1.00 target price on the stock. Wolfe Research assumed coverage on shares of Nikola in a report on Tuesday, April 9th. They issued a “peer perform” rating on the stock. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $1.00 price target on shares of Nikola in a report on Wednesday.

Insider Transactions at Nikola

In other news, CEO Stephen J. Girsky bought 1,000,000 shares of the stock in a transaction dated Monday, May 20th. The shares were acquired at an average cost of $0.54 per share, with a total value of $540,000.00. Following the purchase, the chief executive officer now directly owns 7,243,005 shares in the company, valued at approximately $3,911,222.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.74% of the company’s stock.

Nikola Stock Performance

NASDAQ:NKLA traded up $0.01 during mid-day trading on Friday, hitting $0.51. The company’s stock had a trading volume of 42,442,672 shares, compared to its average volume of 62,052,968. Nikola Co. has a 1 year low of $0.49 and a 1 year high of $3.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.50. The stock has a market cap of $687.64 million, a price-to-earnings ratio of -0.48 and a beta of 2.11. The business’s fifty day moving average is $0.60 and its two-hundred day moving average is $0.71.

Nikola (NASDAQ:NKLA) last posted its earnings results on Tuesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $15.05 million. Analysts anticipate that Nikola Co. will post -0.39 EPS for the current fiscal year.

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.