Centiva Capital LP Has $255,000 Stock Holdings in Nikola Co. (NASDAQ:NKLA)

Centiva Capital LP decreased its position in Nikola Co. (NASDAQ:NKLA) by 47.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,582 shares of the company’s stock after selling 50,848 shares during the period. Centiva Capital LP’s holdings in Nikola were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 acquiring an additional 20,723 shares during the period. One Wealth Management Investment & Advisory Services LLC bought a new stake in Nikola in the third quarter valued at $110,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Nikola by 80.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,434 shares of the company’s stock worth $328,000 after acquiring an additional 34,193 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Nikola by 137.9% during the third quarter. SG Americas Securities LLC now owns 264,773 shares of the company’s stock worth $1,213,000 after buying an additional 153,494 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Nikola during the 2nd quarter valued at $138,000. Institutional investors own 37.38% of the company’s stock.

Wall Street Analysts Forecast Growth

NKLA has been the topic of several research analyst reports. Robert W. Baird decreased their target price on Nikola from $14.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Bryan, Garnier & Co lowered shares of Nikola from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. TD Cowen dropped their target price on shares of Nikola from $10.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, DA Davidson decreased their price target on shares of Nikola from $12.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Nikola Price Performance

NKLA opened at $1.59 on Thursday. The company has a fifty 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 Co. has a 52 week low of $1.40 and a 52 week high of $34.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.94 and a current ratio of 1.17.

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

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.