Nikola Corporation (NASDAQ:NKLA) finished Thursday with a subtraction of -$0.09 to close at $1.23, a downside of -7.20 percent. An average of 68,697,656 shares of common stock have been traded in the last five days. There was a fall of -$0.6450 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 90,746,047 shares traded, while the 50-day average volume stands at 93,867,141.
NKLA stock has decreased by -45.56% in the last month. The company shares reached their 1-month lowest point of $1.1800 on 08/24/23. With the stock rallying to its 52-week high on 08/03/23, shares of the company touched a low of $0.52 and a high of $6.35 in 52 weeks. It has reached a new high 13 times so far this year and lost -43.29% or -$0.9350 in price. In spite of this, the price is down -80.71% 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 15 days ago on Aug 10. In this transaction, the insider spent $237,709. Chief Human Resources Officer, Pike Joseph R., disposed of 80,937 shares at a price of $1.96 on Aug 10. The insider now owns more than $158,475 worth of shares. Prior to that, Director Lohscheller Michael went on to Sale 68,985 shares at $1.96 each on Aug 10. An amount of $135,073 was transacted.
Valuation Metrics
Nikola Corporation (NKLA) stock’s beta is 2.03. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 15.90, the price-to-book (PB) ratio at 1.66.
Financial Health
Further, the company has a long term debt to equity ratio of 0.67 and a total debt to equity ratio of 0.69 for the quarter ending June 29. Nikola Corporation’s EBITDA margin for the year ending June 29 is -1381.61%. Its gross profit as reported stood at -$104.76 million compared to revenue of $50.83 million.
Earnings Surprise
For the three-month period that ended June 29, Nikola Corporation had $348.39 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 -$217.83 million in the quarter, while revenues were grew 20.58%. The analyst consensus anticipated Nikola Corporation’s latest quarter earnings to come in at -$0.22 per share, but it turned out to be -$0.2, a 9.10% surprise. For the quarter, EBITDA amounted to -$163.92 million. Shareholders own equity worth $779.46 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 24 August was 26.44%, suggesting the stock is oversold, with historical volatility in this time frame at 133.05%.
As of today, NKLA’s price is $1.4870 -34.49% or -$0.6450 from its 5-day moving average. NKLA is currently trading -41.67% lower than its 20-day SMA and +1.24% higher than its 100-day SMA. However, the stock’s current price level is +34.03% above the SMA50 and -58.61% below the SMA200.
The stochastic %K and %D were 2.26% and 4.00%, respectively, and the average true range (ATR) was 0.2902. With the 14-day stochastic at 2.87% and the average true range at 0.3094, the RSI (14) stands at 34.65%. The stock has reached -0.3422 on the 9-day MACD Oscillator while the 14-day reading was at -0.4944.
Analyst Ratings
TD Cowen downgraded Nikola Corporation (NASDAQ: NKLA) to a a Market perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform.
