As of Thursday close, Nikola Corporation’s (NASDAQ:NKLA) stock was down -$0.09, moving down -7.09 percent to $1.18. The average number of shares traded per day over the past five days has been 49,208,199 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.0450 fall in that time frame. In the last twenty days, the average volume was 70,092,820, while in the previous 50 days, it was 81,716,258.
Since last month, NKLA stock retreated -60.93%. Shares of the company fell to $1.1500 on 08/31/23, the lowest level in the past month. A 52-week high of $5.58 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 dropped by -45.37% or -$0.9800, and marked a new high 13 times. However, the stock has declined by -78.85% since its 52-week high.
NKLA stock investors should be aware that Nikola Corporation (NKLA) stock had its last reported insider trading activity 22 days ago on Aug 10. Worthen Britton M., the Chief Legal Officer of the company, disposed of 121,404 shares for $1.96 on Aug 10. It resulted in a $237,709 divestment by the insider. Pike Joseph R. sold 80,937 shares at an average price of $1.96 on Aug 10. The insider now owns 504,952 shares following the transaction. On Aug 10, Director Lohscheller Michael sold 68,985 shares at $1.96 apiece. The transaction was valued at $135,073.
Valuation Metrics
The stock’s beta is 2.00. Besides these, the trailing price-to-sales (P/S) ratio of 16.49, the price-to-book (PB) ratio of 1.59.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.67, and the total debt-to-equity ratio was 0.69. 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 -156.60%.
In Nikola Corporation’s quarter-end financial report for June 29, it reported total debt of $348.39 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 fell -26.17% to $11.12 million during the quarter, while net income inched up to $14.37 million. While analysts expected Nikola Corporation to report -$0.22 quarterly earnings, the actual figure was -$0.2 per share, beating the consensus estimate by 9.10%. During the quarter, the company generated -$163.92 million in EBITDA. The liabilities of Nikola Corporation were 614.78 million at the end of its most recent quarter ended June 29, and its total debt was $369.1 million. The value of shareholders’ equity is $779.46 million.
Technical Picture
This quick technical analysis looks at Nikola Corporation’s (NKLA) price momentum. With a historical volatility rate of 131.98%, the RSI 9-day stood at 29.26% on 31 August.
With respect to its five-day moving average, the current Nikola Corporation price is down by -3.67% percent or -$0.0450. At present, NKLA shares trade -65.24% below its 20-day simple moving average and -0.84% percent below its 100-day simple moving average. However, the stock is currently trading approximately -18.06% below its SMA50 and -60.27% below its SMA200.
Stochastic coefficient K was 9.13% and Stochastic coefficient D was 9.92%, while ATR was 0.2270. Given the Stochastic reading of 3.26% for the 14-day period, the RSI (14) reading has been calculated as 35.43%. As of today, the MACD Oscillator reading stands at -0.0583, while the 14-day reading stands at -0.2696.
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 $2.50, 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 $2.70.
