As of Friday close, Nikola Corporation’s (NASDAQ:NKLA) stock was down -$0.89, moving down -26.36 percent to $2.50. The average number of shares traded per day over the past five days has been 158,093,359 shares. 3 times new highs have been achieved over the past 5 days, with a $0.23 gain in that time frame. In the last twenty days, the average volume was 117,684,789, while in the previous 50 days, it was 88,737,820.
Since last month, NKLA stock rose 92.31%. Shares of the company fell to $1.30 on 07/06/23, the lowest level in the past month. A 52-week high of $8.97 was reached on 08/03/23 after having rallying from a 52-week low of $0.52. Since the beginning of this year, NKLA’s stock price has risen by 15.74% or $0.34, and marked a new high 13 times. However, the stock has declined by -72.13% since its 52-week high.
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Sponsored
NKLA stock investors should be aware that Nikola Corporation (NKLA) stock had its last reported insider trading activity 85 days ago on May 12. RUSSELL MARK A, the Director of the company, disposed of 252,260 shares for $0.78 on May 12. It resulted in a $196,886 divestment by the insider. RUSSELL MARK A sold 75,000 shares at an average price of $0.79 on May 11. The insider now owns 1,884,917 shares following the transaction. On Mar 06, Chief Executive Officer Lohscheller Michael sold 27,863 shares at $2.11 apiece. The transaction was valued at $58,847.
Valuation Metrics
The stock’s beta is 1.88. Besides these, the trailing price-to-sales (P/S) ratio of 27.58, the price-to-book (PB) ratio of 2.53.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.54, and the total debt-to-equity ratio was 0.58. Based on annual data, NKLA earned -$104.76 million in gross profit and brought in $50.83 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -85.00%. Return on equity (ROE) for the past 12 months was -143.20%.
In Nikola Corporation’s quarter-end financial report for March 30, it reported total debt of $296.47 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NKLA’s revenue rose 83.0% to $6.56 million during the quarter, while net income inched up to $11.12 million. While analysts expected Nikola Corporation to report -$0.26 quarterly earnings, the actual figure was -$0.26 per share. During the quarter, the company generated -$143.99 million in EBITDA. The liabilities of Nikola Corporation were 612.49 million at the end of its most recent quarter ended March 30, and its total debt was $348.63 million. The value of shareholders’ equity is $694.09 million.
Technical Picture
This quick technical analysis looks at Nikola Corporation’s (NKLA) price momentum. With a historical volatility rate of 239.80%, the RSI 9-day stood at 51.17% on 04 August.
With respect to its five-day moving average, the current Nikola Corporation price is up by +10.13% percent or $0.23. At present, NKLA shares trade +77.30% above its 20-day simple moving average and +40.45% percent above its 100-day simple moving average. However, the stock is currently trading approximately +220.27% above its SMA50 and -15.82% below its SMA200.
Stochastic coefficient K was 63.73% and Stochastic coefficient D was 77.59%, while ATR was 0.47. Given the Stochastic reading of 29.65% for the 14-day period, the RSI (14) reading has been calculated as 54.98%. As of today, the MACD Oscillator reading stands at 0.38, while the 14-day reading stands at 0.41.
Analyst Ratings
Nikola Corporation downgraded its rating on Nikola Corporation (NASDAQ: NKLA) to a Market perform in a note to investors on May 10, 2023. The analysts firm previously had an Outperform rating on the stock.Nikola Corporation (NKLA) has been rated Hold by analysts. According to 1 brokerage firm, NKLA is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Nikola Corporation stock as buy, with 1 recommending it as overweight.
With a median target price of $3.00, the current consensus forecast for the stock is $1.00 – $5.00. Based on these forecasts, analysts predict Nikola Corporation (NKLA) will achieve an average price target of $2.80.
