Sanctuary Advisors LLC Makes New Investment in Nikola Co. (NASDAQ:NKLA)

Sanctuary Advisors LLC bought a new stake in Nikola Co. (NASDAQ:NKLA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 16,826 shares of the company’s stock, valued at approximately $138,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Nikola by 4.0% during the first quarter. Vanguard Group Inc. now owns 80,262,859 shares of the company’s stock valued at $83,473,000 after buying an additional 3,117,074 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Nikola by 65.4% in the 1st quarter. Van ECK Associates Corp now owns 10,695,472 shares of the company’s stock valued at $11,123,000 after acquiring an additional 4,229,114 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Nikola by 10.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,646,363 shares of the company’s stock valued at $4,832,000 after acquiring an additional 454,804 shares in the last quarter. SG Americas Securities LLC lifted its stake in Nikola by 90.3% during the first quarter. SG Americas Securities LLC now owns 3,812,396 shares of the company’s stock worth $3,965,000 after purchasing an additional 1,809,074 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Nikola by 5.7% in the first quarter. Swiss National Bank now owns 2,171,500 shares of the company’s stock worth $2,258,000 after purchasing an additional 117,700 shares during the period. Institutional investors own 37.38% of the company’s stock.

Insider Buying and Selling

In other Nikola news, CEO Stephen J. Girsky sold 4,636 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $7.75, for a total value of $35,929.00. Following the sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.74% of the company’s stock.

Nikola Stock Up 5.8 %

NASDAQ:NKLA opened at $4.04 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.31 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $5.59 and a 200-day moving average of $11.23. The firm has a market capitalization of $182.50 million, a PE ratio of -0.13 and a beta of 2.06. Nikola Co. has a 52 week low of $3.72 and a 52 week high of $38.40.

Nikola (NASDAQ:NKLA) last issued its quarterly earnings data on Friday, August 9th. The company reported ($2.67) EPS for the quarter, topping analysts’ consensus estimates of ($2.78) by $0.11. The company had revenue of $31.10 million for the quarter, compared to the consensus estimate of $26.19 million. Nikola’s quarterly revenue was up 101.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($7.21) earnings per share.

Analyst Ratings Changes

Separately, DA Davidson lowered 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 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.