Nikola Corporation [NKLA] Revenue clocked in at $0.14 million, up 11.93% YTD: What’s Next?

Nikola Corporation [NASDAQ: NKLA] stock went on a downward path that fall over -3.77% on Monday, amounting to a one-week price increase of more than 6.22%. The company report on January 7, 2021 that Global Water Resources to Provide Water Services to Nikola’s New Zero-Emission Semi-Truck Manufacturing Plant.

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Global Water Resources, Inc. (NASDAQ: GWRS), (TSX: GWR), a pure-play water resource management company, has entered into a master utility agreement with Nikola Corporation (NASDAQ: NKLA) to provide water and wastewater services to Nikola’s new manufacturing plant in Coolidge, Arizona adjacent to Inland Port Arizona.

Nikola broke ground on its manufacturing facility where it plans to make hydrogen-powered and battery-powered Class 8 semi-trucks. Nikola plans to complete the initial phase of construction by mid-2021, with the follow-on phases completed within the next 12-18 months.

Over the last 12 months, NKLA stock rose by 65.16%. The one-year Nikola Corporation stock forecast points to a potential upside of 35.96. The average equity rating for NKLA stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.59 billion, with 377.66 million shares outstanding and 144.46 million shares in the current float. Compared to the average trading volume of 19.50M shares, NKLA stock reached a trading volume of 10670418 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Nikola Corporation [NKLA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NKLA shares is $26.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NKLA stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as In-line, with their previous recommendation back on December 16, 2020. While these analysts kept the previous recommendation, Loop Capital raised their target price to Buy. The new note on the price target was released on November 20, 2020, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another drop from $45 to $15, while Wedbush kept a Underperform rating on NKLA stock.

The Average True Range (ATR) for Nikola Corporation is set at 1.22, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 45736.44. The Price to Book ratio for the last quarter was 5.97, with the Price to Cash per share for the same quarter was set at 2.35.

NKLA Stock Performance Analysis:

Nikola Corporation [NKLA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.22. With this latest performance, NKLA shares dropped by -6.72% in over the last four-week period, additionally sinking by -68.34% over the last 6 months – not to mention a rise of 65.16% 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 47.45, with the RSI for the last a single of trading hit 51.03, and the three-weeks RSI is set at 45.91 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 19.45, while it was recorded at 16.98 for the last single week of trading, and 29.85 for the last 200 days.

Insight into Nikola Corporation Fundamentals:

NKLA Stock EPS

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 20.59%.

Nikola Corporation [NKLA] Insider Position Details

There are presently around $698 million, or 13.80% of NKLA stock, in the hands of institutional investors. The top three institutional holders of NKLA stocks are: VANGUARD GROUP INC with ownership of 12,383,951, which is approximately New of the company’s market cap and around 1.30% of the total institutional ownership; FMR LLC, holding 5,041,836 shares of the stock with an approximate value of $86.11 million in NKLA stocks shares; and COATUE MANAGEMENT LLC, currently with $63.15 million in NKLA stock with ownership of nearly 2744.205% of the company’s market capitalization.

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173 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 30,695,901 shares. Additionally, 64 investors decreased positions by around 39,459,626 shares, while 17 investors held positions by with 29,296,425 shares. The mentioned changes placed institutional holdings at 40,859,102 shares, according to the latest SEC report filing. NKLA stock had 103 new institutional investments in for a total of 19,402,608 shares, while 48 institutional investors sold positions of 21,082,748 shares during the same period.

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