SG Americas Securities LLC Buys 153,494 Shares of Nikola Co. (NASDAQ:NKLA)

SG Americas Securities LLC increased its holdings in shares of Nikola Co. (NASDAQ:NKLA - Free Report) by 137.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 264,773 shares of the company's stock after acquiring an additional 153,494 shares during the period. SG Americas Securities LLC owned about 0.59% of Nikola worth $1,213,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Unique Wealth Strategies LLC acquired a new position in Nikola in the second quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in Nikola in the second quarter valued at about $56,000. Sanctuary Advisors LLC bought a new position in shares of Nikola in the second quarter worth about $138,000. Point72 DIFC Ltd bought a new position in shares of Nikola in the second quarter worth about $215,000. Finally, Krane Funds Advisors LLC raised its stake in shares of Nikola by 7.4% in the fourth quarter. Krane Funds Advisors LLC now owns 419,671 shares of the company's stock worth $367,000 after acquiring an additional 29,016 shares during the last quarter. 37.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nikola

In related news, CEO Stephen J. Girsky sold 4,636 shares of the 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 completion of the transaction, the chief executive officer now directly owns 238,311 shares in the company, valued at approximately $1,846,910.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.74% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their target price on shares of Nikola from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, August 12th.

Nikola Trading Down 2.9 %

Shares of Nikola stock traded down $0.13 during trading on Thursday, hitting $4.35. 1,784,802 shares of the company were exchanged, compared to its average volume of 3,238,515. The firm has a market capitalization of $196.50 million, a P/E ratio of -0.14 and a beta of 2.06. Nikola Co. has a 1-year low of $4.10 and a 1-year high of $44.40. The firm's fifty day moving average price is $6.11 and its 200 day moving average price is $12.62. 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 - Get Free Report) last posted its earnings results on Friday, August 9th. The company reported ($2.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.78) by $0.11. The company had revenue of $31.10 million for the quarter, compared to analyst estimates of $26.19 million. During the same quarter in the previous year, the firm posted ($7.21) earnings per share. Nikola's quarterly revenue was up 101.9% compared to the same quarter last year.

About Nikola

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.