Nikola Corp (NASDAQ:NKLA) finished Thursday with an addition of $0.09 to close at $1.65, an upside of 5.77 percent. An average of 74,435,680 shares of common stock have been traded in the last five days. There was a gain of $0.3500 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 107,864,023 shares traded, while the 50-day average volume stands at 90,263,055.
NKLA stock has increased by 26.92% in the last month. The company shares reached their 1-month lowest point of $0.8140 on 09/11/23. 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 $3.98 in 52 weeks. It has reached a new high 13 times so far this year and lost -23.61% or -$0.5100 in price. In spite of this, the price is down -58.54% from the 52-week high.
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Insider Transactions
NKLA stock investors should be aware that Nikola Corp (NKLA) stock had its last reported insider trading activity 23 days ago on Sep 06. In this transaction, the insider spent $7,521. Chief Legal Officer, Worthen Britton M., disposed of 121,404 shares at a price of $1.96 on Aug 10. The insider now owns more than $237,709 worth of shares. Prior to that, Chief Human Resources Officer Pike Joseph R. went on to Sale 80,937 shares at $1.96 each on Aug 10. An amount of $158,475 was transacted.
Valuation Metrics
Nikola Corp (NKLA) stock’s beta is 1.86. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 24.67, the price-to-book (PB) ratio at 2.43.
Financial Health
The quick ratio of Nikola Corp for the three months ended June 29 was 1.37, and the current ratio was 1.74, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.68 and a total debt to equity ratio of 0.71 for the quarter ending June 29. 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 Corp 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 Corp’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 Corp (NKLA) price momentum. RSI 9-day as of the close on 28 September was 65.91%, suggesting the stock is Neutral, with historical volatility in this time frame at 174.87%.
As of today, NKLA’s price is $1.4710 +26.92% or $0.3500 from its 5-day moving average. NKLA is currently trading +29.92% higher than its 20-day SMA and +68.59% higher than its 100-day SMA. However, the stock’s current price level is -36.29% below the SMA50 and -28.88% below the SMA200.
The stochastic %K and %D were 89.09% and 79.09%, respectively, and the average true range (ATR) was 0.1993. With the 14-day stochastic at 95.98% and the average true range at 0.2090, the RSI (14) stands at 58.34%. The stock has reached 0.1044 on the 9-day MACD Oscillator while the 14-day reading was at 0.2687.
Analyst Ratings
TD Cowen downgraded Nikola Corp (NASDAQ: NKLA) to a a Market perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Nikola Corp (NKLA) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell NKLA, while 6 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is NKLA’s price target for the next 12 months?
Analysts predict a range of price targets between $1.00 and $5.00, with a median target of $2.50. Taking a look at these predictions, the average price target given by analysts for Nikola Corp (NKLA) stock is $2.70.
