The stock of Nikola Corporation (NASDAQ:NKLA) decreased by -$0.07 on Monday to finish at $1.24, down -5.34 percent. The last five days have seen an average of 61,343,262 shares of common stock traded. 13 times new highs were reached in the current year, with a fall of -$0.9200. The average number of shares traded over the last 20 days was 87,557,523, while the average volume over the last 50 days totaled 87,762,602.
NKLA stock dropped -45.37% since last month. On 08/28/23, the company’s shares reached a one-month low of $1.1700. The stock touched a high of $6.29 on 08/03/23, after rallying from a low of $0.52 in 52 weeks. The price of NKLA stock has declined by -42.59% or -$0.9200 this year, reaching a new high 13 times. Still, the stock price is down -80.29% 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 19 days ago on Aug 10. On Aug 10, Chief Legal Officer Worthen Britton M. sold 121,404 shares at $1.96 each. This transaction resulted in the insider making $237,709. On Aug 10, Pike Joseph R. sold 80,937 shares at a price of US$1.96. After the transaction, the insider now owns 504,952 shares. Director Lohscheller Michael had earlier sold 68,985 shares on Aug 10 for $1.96 a share. The transaction was completed for $135,073.
Valuation Metrics
Beta for the stock is 2.05. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 17.33, the price-to-book (PB) ratio of 1.68.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.67, and the total debt to equity ratio is 0.69. Based on annual data, it had gross profit of -$104.76 million and revenue of $50.83 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NKLA’s return on assets (ROA) during the last 12 months has been -72.10%. There was a -85.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -156.60%.
Earnings Surprise
According to Nikola Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $14.37 million, while revenues fell by -26.17% to $11.12 million. It was predicted that Nikola Corporation’s quarterly earnings would be -$0.2, but it ended up being -$0.22, beating the consensus by 9.10%. EBITDA was -$163.92 million for the quarter. At the end of Nikola Corporation’s most recent quarter ended June 29, its liabilities totaled 614.78 million, while its total debt was $369.1 million. Equity owned by shareholders amounts to $779.46 million.
Technical Picture
Here’s a quick look at Nikola Corporation’s (NKLA) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 29.33%, suggesting the stock is oversold, with a 137.78% historical volatility rate.
The stochastic %K and %D were 6.96% and 4.69% respectively, while the average true range (ATR) was 0.2681. Based on the 14-day stochastic reading of 6.80%, the RSI (14) reading is 35.92%. On the 9-day MACD Oscillator, the stock is at -0.2744, and the 14-day reading is at -0.4113.
Analyst Ratings
Nikola Corporation (NASDAQ: NKLA) was downgraded by TD Cowen to a a Market perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Nikola Corporation (NKLA) an Hold rating. NKLA is a stock that is recommended for selling by 1 brokerage firm, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is NKLA’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.00 and $5.00, with a median target price of $2.50. In analyzing these forecasts, the average price target given by analysts for Nikola Corporation (NKLA) is $2.70.
