The Price Target For Nikola Corporation (NKLA)?


Nikola Corporation (NASDAQ:NKLA) finished Thursday with an addition of $0.13 to close at $2.39, an upside of 5.75 percent. An average of 9,432,260 shares of common stock have been traded in the last five days. There was a fall of -$0.06 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 11,211,960 shares traded, while the 50-day average volume stands at 11,924,718.

NKLA stock has increased by 1.70% in the last month. The company shares reached their 1-month lowest point of $2.01 on 12/13/22. With the stock rallying to its 52-week high on 03/30/22, shares of the company touched a low of $2.01 and a high of $11.87 in 52 weeks. It has reached a new high 4 times so far this year and lost -75.79% or -$7.48 in price. In spite of this, the price is down -79.87% from the 52-week high.

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Insider Transactions

NKLA stock investors should be aware that Nikola Corporation (NKLA) stock had its last reported insider trading activity 2 days ago on Dec 28. In this transaction, the insider spent $173,104. Director, RUSSELL MARK A, disposed of 75,000 shares at a price of $2.44 on Dec 27. The insider now owns more than $183,306 worth of shares. Prior to that, Director RUSSELL MARK A went on to Sale 75,000 shares at $2.57 each on Dec 23. An amount of $192,898 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 24.55, the price-to-book (PB) ratio at 1.85.

Financial Health

Further, the company has a long term debt to equity ratio of 0.50 and a total debt to equity ratio of 0.53 for the quarter ending June 29.

Earnings Surprise

For the three-month period that ended June 29, Nikola Corporation had $283.26 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 -$236.23 million in the quarter, while revenues were shrunk -13.27%. 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 -$222.92 million. Shareholders own equity worth $478.85 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 29 December was 49.14%, suggesting the stock is Neutral, with historical volatility in this time frame at 107.10%.

As of today, NKLA’s price is $2.43 -2.45% or -$0.06 from its 5-day moving average. NKLA is currently trading -8.78% lower than its 20-day SMA and -69.32% lower than its 100-day SMA. However, the stock’s current price level is -21.90% below the SMA50 and -67.31% below the SMA200.

The stochastic %K and %D were 48.79% and 62.00%, respectively, and the average true range (ATR) was 0.23. With the 14-day stochastic at 55.07% and the average true range at 0.23, the RSI (14) stands at 47.03%. The stock has reached -0.05 on the 9-day MACD Oscillator while the 14-day reading was at 0.01.

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 Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell NKLA, while 6 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 $2.50 and $15.00, with a median target of $5.50. Taking a look at these predictions, the average price target given by analysts for Nikola Corporation (NKLA) stock is $6.44.


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