Nikola Corp (NASDAQ:NKLA) saw an upside of 11.60% to close Monday at $1.39 after adding $0.14 on the day. The 5-day average trading volume is 97,692,539 shares of the company’s common stock. It has gained $1.6500 in the past week and touched a new high 1 time within the past 5 days. An average of 103,508,586 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 93,215,961.
NKLA’s 1-month performance is 13.88% or $0.0850 on its low of $0.8140 reached on 09/11/23. The company’s shares have touched a 52-week low of $0.52 and high of $4.10, with the stock’s rally to the 52-week high happening on 08/03/23. YTD, NKLA has lost -35.42% or -$0.7650 and has reached a new high 13 times. However, the current price is down -65.95% from the 52-week high price.
Insider Transactions
NKLA stock investors last saw insider trading activity on Sep 06.Pasterick Anastasiya (Chief Financial Officer) most recently sold 6,709 shares at $1.12 per share on Sep 06. This transaction cost the insider $7,521. Chief Legal Officer, Worthen Britton M., sold 121,404 shares at a price of $1.96 on Aug 10. Then, on Aug 10, Chief Human Resources Officer Pike Joseph R. sold 80,937 shares at a price of $1.96 per share. This transaction amounted to $158,475.
Valuation Metrics
NKLA stock has a beta of 1.97. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 20.86 while the price-to-book (PB) in the most recent quarter is 2.05.
Nikola Corp’s quick ratio for the period ended June 29 was 1.37, with the current ratio over the same period at 1.74. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.68, while the total debt to equity was 0.71. In terms of profitability, the gross margin trailing 12 months is -288.61%. The trailing 12-month EBITDA margin is -1381.61% while for the period ending June 29, Nikola Corp’s operating margin was -1301.41%. 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 Corp (NKLA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 55.22% to suggest the stock is trending Neutral, with historical volatility in this time period at 218.43%.
The stock’s 5-day moving average is $1.3780, reflecting a -12.26% or -$0.1950 change from its current price. NKLA is currently trading +6.49% above its 20-day SMA, +62.28% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -38.00% and SMA200 by-43.29%.
Stochastic %K and %D was 59.93% and 63.92% and the average true range (ATR) pointed at 0.2084. The RSI (14) points at 50.86%, while the 14-day stochastic is at 69.50% with the period’s ATR at 0.2167. The stock’s 9-day MACD Oscillator is pointing at 0.0162 and 0.1337 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Nikola Corp (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 Corp (NKLA) stock is $2.70.
