Nikola (NASDAQ:NKLA) Trading Down 28.7% – Here’s What Happened

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

Nikola Price Performance

The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.71. The company’s fifty day moving average is $0.66 and its two-hundred day moving average is $2.39. The stock has a market cap of $11.14 million, a price-to-earnings ratio of -0.01 and a beta of 1.97.

Institutional Investors Weigh In On Nikola

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP purchased a new stake in shares of Nikola in the fourth quarter valued at about $33,000. Toronto Dominion Bank purchased a new stake in shares of Nikola in the fourth quarter valued at about $5,278,000. Bridgeway Capital Management LLC purchased a new stake in shares of Nikola in the fourth quarter valued at about $30,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Nikola in the fourth quarter valued at about $291,000. Finally, Robert Bosch GmbH purchased a new stake in shares of Nikola in the fourth quarter valued at about $276,000. 37.38% of the stock is owned by hedge funds and other 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.