Nikola (NASDAQ:NKLA) Stock Price Down 28.7% – Should You Sell?

Nikola Co. (NASDAQ:NKLA)’s stock price dropped 28.7% during trading on Monday . The stock traded as low as $0.18 and last traded at $0.18. Approximately 36,658,847 shares were traded during trading, an increase of 355% from the average daily volume of 8,059,284 shares. The stock had previously closed at $0.26.

Nikola Price Performance

The company has a market capitalization of $11.14 million, a P/E ratio of -0.01 and a beta of 1.97. The company has a fifty day moving average price of $0.63 and a 200 day moving average price of $2.35. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.17 and a quick ratio of 0.94.

Hedge Funds Weigh In On Nikola

Several institutional investors have recently made changes to their positions in NKLA. Toronto Dominion Bank bought a new position in shares of Nikola during the fourth quarter valued at approximately $5,278,000. Norges Bank acquired a new position in shares of Nikola during the fourth quarter worth approximately $4,219,000. XTX Topco Ltd boosted its position in shares of Nikola by 711.6% during the fourth quarter. XTX Topco Ltd now owns 578,413 shares of the company’s stock worth $688,000 after buying an additional 507,141 shares during the period. Van ECK Associates Corp boosted its position in shares of Nikola by 121.0% during the fourth quarter. Van ECK Associates Corp now owns 750,749 shares of the company’s stock worth $893,000 after buying an additional 410,974 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Nikola by 113.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 478,171 shares of the company’s stock worth $569,000 after buying an additional 254,044 shares during the period. 37.38% of the stock is owned by institutional investors.

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.