Nikola Corporation (NKLA) Price Target: Is It Set To Rise Or Fall In Price?

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Nikola Corporation (NASDAQ:NKLA) finished Thursday with a subtraction of -$0.3 to close at $4.08, a downside of -6.85 percent. An average of 20,420,760 shares of common stock have been traded in the last five days. There was a fall of -$1.14 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 14,698,420 shares traded, while the 50-day average volume stands at 12,267,760.

NKLA stock has decreased by -29.66% in the last month. The company shares reached their 1-month lowest point of $3.95 on 09/22/22. With the stock rallying to its 52-week high on 03/30/22, shares of the company touched a low of $4.10 and a high of $15.56 in 52 weeks. It has reached a new high 4 times so far this year and lost -58.66% or -$5.79 in price. In spite of this, the price is down -73.78% from the 52-week high.


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Insider Transactions

2 days have passed since Nikola Corporation (NKLA) last reported insider trading activity. RUSSELL MARK A, who is Chief Executive Officer, most recently acquired $75,000 shares at $4.32 per share on Sep 21. In this transaction, the insider spent $324,374. Chief Executive Officer, RUSSELL MARK A, disposed of 75,000 shares at a price of $4.57 on Sep 20. The insider now owns more than $342,826 worth of shares. Prior to that, Chief Executive Officer RUSSELL MARK A went on to Sale 91,114 shares at $4.87 each on Sep 19. An amount of $443,326 was transacted.

Valuation Metrics

Nikola Corporation (NKLA) stock’s beta is 1.38. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 90.15, the price-to-book (PB) ratio at 2.89.

Financial Health

Further, the company has a long term debt to equity ratio of 0.46 and a total debt to equity ratio of 0.47 for the quarter ending June 29.

Earnings Surprise

For the three-month period that ended June 29, Nikola Corporation had $273.31 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$173.0 million in the quarter, while revenues of -$152.94 million were grew 17.21%. The analyst consensus anticipated Nikola Corporation’s latest quarter earnings to come in at -$0.28 per share, but it turned out to be -$0.25, a 10.70% surprise. For the quarter, EBITDA amounted to -$165.67 million. Shareholders own equity worth $433.48 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Nikola Corporation (NKLA) price momentum. RSI 9-day as of the close on 22 September was 21.18%, suggesting the stock is oversold, with historical volatility in this time frame at 71.03%.

As of today, NKLA’s price is $4.54 -21.84% or -$1.14 from its 5-day moving average. NKLA is currently trading -31.43% lower than its 20-day SMA and -43.18% lower than its 100-day SMA. However, the stock’s current price level is -23.16% below the SMA50 and -58.70% below the SMA200.

The stochastic %K and %D were 10.22% and 7.77%, respectively, and the average true range (ATR) was 0.38. With the 14-day stochastic at 7.98% and the average true range at 0.40, the RSI (14) stands at 27.76%. The stock has reached -0.52 on the 9-day MACD Oscillator while the 14-day reading was at -0.65.

Analyst Ratings

BTIG Research upgraded Nikola Corporation (NASDAQ: NKLA) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Nikola Corporation (NKLA) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NKLA, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.

What is NKLA’s price target for the next 12 months?

Analysts predict a range of price targets between $6.00 and $20.00, with a median target of $10.00. Taking a look at these predictions, the average price target given by analysts for Nikola Corporation (NKLA) stock is $10.61.

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