Nikola Corporation (NASDAQ:NKLA) saw a downside of -7.53% to close Tuesday at $2.21 after subtracting -$0.18 on the day. The 5-day average trading volume is 130,329,125 shares of the company’s common stock. It has gained $3.71 in the past week and touched a new high 2 times within the past 5 days. An average of 125,110,828 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 90,885,023.
NKLA’s 1-month performance is 49.83% or $0.80 on its low of $1.35 reached on 07/12/23. The company’s shares have touched a 52-week low of $0.52 and high of $8.97, with the stock’s rally to the 52-week high happening on 08/03/23. YTD, NKLA has achieved 2.31% or $0.05 and has reached a new high 13 times. However, the current price is down -75.36% from the 52-week high price.
Insider Transactions
NKLA stock investors last saw insider trading activity on May 12.RUSSELL MARK A (Director) most recently sold 252,260 shares at $0.78 per share on May 12. This transaction cost the insider $196,886. Director, RUSSELL MARK A, sold 75,000 shares at a price of $0.79 on May 11. Then, on Mar 06, Chief Executive Officer Lohscheller Michael sold 27,863 shares at a price of $2.11 per share. This transaction amounted to $58,847.
Valuation Metrics
NKLA stock has a beta of 1.94. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 35.79 while the price-to-book (PB) in the most recent quarter is 2.40.
The trailing 12-month EBITDA margin is -1381.61%. The firm’s gross profit as reported stood at -$104.76 million against revenue of $50.83 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 20.58% to -$217.83 million, while revenue of -$169.09 million was 22.38% off the previous quarter. Analysts expected NKLA to announce -$0.22 per share in earnings in its latest quarter, but it posted -$0.2, representing a 9.10% surprise. EBITDA for the quarter stood at more than -$163.92 million. NKLA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 614.78 million, with total debt at $369.1 million. Shareholders hold equity totaling $779.46 million.
Let’s look briefly at Nikola Corporation (NKLA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 45.23% to suggest the stock is trending Neutral, with historical volatility in this time period at 223.21%.
The stock’s 5-day moving average is $2.70, reflecting a -29.17% or -$0.91 change from its current price. NKLA is currently trading +56.74% above its 20-day SMA, +34.76% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +259.17% and SMA200 by-23.79%.
Stochastic %K and %D was 21.90% and 43.50% and the average true range (ATR) pointed at 0.47. The RSI (14) points at 50.15%, while the 14-day stochastic is at 12.79% with the period’s ATR at 0.41. The stock’s 9-day MACD Oscillator is pointing at -0.26 and -0.15 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Nikola Corporation (NASDAQ: NKLA), TD Cowen downgraded it to a Market perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for NKLA stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate NKLA as a “sell,”, while 6 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is NKLA’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $1.00 and a high of $5.00, with their median price target at $2.50. Looking at these predictions, the average price target given by analysts is for Nikola Corporation (NKLA) stock is $2.70.
