Krane Funds Advisors LLC Raises Holdings in Nikola Co. (NASDAQ:NKLA)

Krane Funds Advisors LLC boosted its stake in shares of Nikola Co. (NASDAQ:NKLA) by 7.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,671 shares of the company’s stock after acquiring an additional 29,016 shares during the quarter. 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).

Several other institutional investors also recently bought and sold shares of the stock. Marathon Trading Investment Management LLC purchased a new stake in Nikola in the 3rd quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its holdings in Nikola by 162.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 49,304 shares of the company’s stock worth $43,000 after buying an additional 30,490 shares during the period. Rathbones Group PLC purchased a new stake in Nikola in the 3rd quarter worth approximately $46,000. Seaview Investment Managers LLC lifted its holdings in Nikola by 78.3% in the 4th quarter. Seaview Investment Managers LLC now owns 68,333 shares of the company’s stock worth $60,000 after buying an additional 30,000 shares during the period. Finally, Cantor Fitzgerald L. P. lifted its holdings in Nikola by 817.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 93,244 shares of the company’s stock worth $82,000 after buying an additional 83,081 shares during the period. 37.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at Nikola

In related news, CEO Stephen J. Girsky acquired 1,000,000 shares of Nikola stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average price of $0.54 per share, with a total value of $540,000.00. Following the transaction, the chief executive officer now directly owns 7,243,005 shares in the company, valued at $3,911,222.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.74% of the stock is owned by corporate insiders.

Nikola Stock Up 2.8 %

Shares of NASDAQ:NKLA traded up $0.01 during trading on Friday, hitting $0.51. The stock had a trading volume of 42,442,672 shares, compared to its average volume of 62,052,968. Nikola Co. has a 12 month low of $0.49 and a 12 month high of $3.71. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $687.64 million, a PE ratio of -0.48 and a beta of 2.11. The firm’s fifty day moving average is $0.60 and its 200 day moving average is $0.71.

Nikola (NASDAQ:NKLA) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). The company had revenue of $7.50 million for the quarter, compared to the consensus estimate 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.