Nikola Corporation ( NKLA ) shares are trading slightly lower Monday. The company posted its second-quarter financial results last Friday. 

The Details:

Nikola ( NKLA ) shares rose more than 8% Friday after the company reported better-than-expected results on the top and bottom lines and exceeded the high end of its guidance range for vehicle deliveries. 

DA Davidson analyst Michael Shlisky maintained a Neutral rating on Nikola ( NKLA ) and lowered the price target from $12 to $10 following the print. The analyst noted Nikola's ( NKLA ) increased vehicle deliveries and said the company may end up at the higher-end of its full-year guidance range of between 300 and 350 units, given strong demand trends. 

However, the company's quarterly SEC filing revealed a going concern warning: 

"There is substantial doubt about our ability to continue as a going concern through the next twelve months from the date of issuance of these condensed consolidated financial statements. We estimate that our existing financial resources are only adequate to fund our forecasted operating costs and meet our obligations into, but not beyond, the fourth quarter of 2024," the company stated in the filing. 

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What Else:

Nikola ( NKLA ) announced the opening of a new HYLA modular refueling station located in Santa Fe Springs, California on Monday.  The company said it supports Nikola’s goal of 14 refueling solutions by year-end, reflecting a mix of HYLA and partner stations available for customers. 

DA Davidson highlighted Nikola's ( NKLA ) expansion of its refueling network as the company "trying to solve the ‘chicken and egg' problem with respect to fueling infrastructure."

Should I Sell My NKLA Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Nikola ( NKLA ) have decreased by 85.16% in the past year. An investor who bought shares of Nikola ( NKLA ) at the beginning of the year would take a loss of $16.89 per share if they sold it today.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Nikola ( NKLA ) stock currently has an RSI of 51.74, indicating neutral conditions.

For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.

NKLA Price Action: According to Benzinga Pro, Nikola ( NKLA ) shares are down 4.64% at $8.04 at the time of publication Monday.

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Image: Courtesy of Nikola Corporation ( NKLA )