Market Analysts see Nikola Corporation [NKLA] falling to $15. Time to buy?

Nikola Corporation [NASDAQ: NKLA] surged by $1.52 during the normal trading session on Wednesday and reaching a high of $23.35 during the day while it closed the day at $22.24. The company report on October 22, 2020 that SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KSF REMINDS COTY, GOCO, NKLA INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits.

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors of pending deadlines in the following securities class action lawsuits:.

Coty, Inc. (COTY) Class Period: 10/3/2016 – 5/28/2020Lead Plaintiff Motion Deadline: November 3, 2020SECURITIES FRAUD To learn more, visit https://www.ksfcounsel.com/cases/nyse-coty/.

Nikola Corporation stock has also loss -7.76% of its value over the past 7 days. However, NKLA stock has declined by -34.47% in the 3 months of the year. Over the past six months meanwhile, it has gained 80.37% and gained 115.51% year-on date.

The market cap for NKLA stock reached $10.05 billion, with 303.79 million shares outstanding and 153.49 million shares in the current float. Compared to the average trading volume of 31.12M shares, NKLA reached a trading volume of 30919329 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Nikola Corporation [NKLA]:

Wedbush have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on September 24, 2020. While these analysts kept the previous recommendation, Wedbush raised their target price to Neutral. The new note on the price target was released on August 26, 2020, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another raise to $54, while Deutsche Bank analysts kept a Hold rating on NKLA stock.

The Average True Range (ATR) for Nikola Corporation is set at 2.93, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 22835.93. The Price to Book ratio for the last quarter was 7.67, with the Price to Cash per share for the same quarter was set at 1.55.

NKLA stock trade performance evaluation

Nikola Corporation [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.76. With this latest performance, NKLA shares dropped by -21.99% in over the last four-week period, additionally plugging by 80.37% over the last 6 months – not to mention a rise of 118.90% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NKLA stock in for the last two-week period is set at 42.48, with the RSI for the last a single of trading hit 44.12, and the three-weeks RSI is set at 42.03 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 31.77, while it was recorded at 21.25 for the last single week of trading, and 27.41 for the last 200 days.

Nikola Corporation [NKLA]: An insightful look at the core fundamentals

Earnings per share (EPS) analysis for Nikola Corporation [NKLA] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NKLA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nikola Corporation go to 20.95%.

Nikola Corporation [NKLA]: Insider Ownership positions

There are presently around $1,104 million, or 13.80% of NKLA stock, in the hands of institutional investors. The top three institutional holders of NKLA stocks are: FMR LLC with ownership of 18,672,413, which is approximately New of the company’s market cap and around 1.30% of the total institutional ownership; VALUEACT HOLDINGS, L.P., holding 11,675,437 shares of the stock with an approximate value of $259.66 million in NKLA stocks shares; and P SCHOENFELD ASSET MANAGEMENT LP, currently with $67.51 million in NKLA stock with ownership of nearly New of the company’s market capitalization.

159 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 49,649,634 shares. Additionally, 7 investors decreased positions by around 13,821 shares, while 1 investors held positions by with 3,300 shares. The mentioned changes placed institutional holdings at 49,660,155 shares, according to the latest SEC report filing. NKLA stock had 148 new institutional investments in for a total of 49,620,427 shares, while 7 institutional investors sold positions of 13,821 shares during the same period.

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