Friday, March 5, 2021

Nikola Corporation [NKLA] stock Initiated by Evercore ISI analyst, price target now $20

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Nikola Corporation [NASDAQ: NKLA] surged by $0.62 during the normal trading session on Monday and reaching a high of $22.55 during the day while it closed the day at $20.74. The company report on January 20, 2021 that TuSimple Announces Executive Advisory Board Consisting of Industry and Regulatory Experts.

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Leaders from Schneider, Werner, U.S. Xpress, Canadian National, and VectoIQ, as well as former U.S. congressmen, join TuSimple’s advisory board.


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TuSimple, a global self-driving technology company, announced the members of its newly established Executive Advisory Board including Jeff Denham, Eric Fuller, Steve Girsky, Jim Kolbe, Derek Leathers, Mark Rourke, and Jean-Jacques Ruest. TuSimple’s Executive Advisory Board will provide strategic advice to the company and its senior management team to accelerate the adoption of autonomous long-haul freight in areas including regulation, technology, freight logistics, and leadership.

Nikola Corporation stock has also gained 5.07% of its value over the past 7 days. However, NKLA stock has declined by -8.71% in the 3 months of the year. Over the past six months meanwhile, it has lost -30.68% and gained 35.91% year-on date.

The market cap for NKLA stock reached $7.89 billion, with 377.66 million shares outstanding and 144.46 million shares in the current float. Compared to the average trading volume of 19.80M shares, NKLA reached a trading volume of 20437822 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]:

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 1.49, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 54824.17. The Price to Book ratio for the last quarter was 7.25, with the Price to Cash per share for the same quarter was set at 2.38.

NKLA stock trade performance evaluation

Nikola Corporation [NKLA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.07. With this latest performance, NKLA shares gained by 23.23% in over the last four-week period, additionally sinking by -30.68% over the last 6 months – not to mention a rise of 100.39% 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 58.53, with the RSI for the last a single of trading hit 63.78, and the three-weeks RSI is set at 54.37 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 19.66, while it was recorded at 20.12 for the last single week of trading, and 30.26 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 20.59%.

Nikola Corporation [NKLA]: Insider Ownership positions

There are presently around $848 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 $104.57 million in NKLA stocks shares; and COATUE MANAGEMENT LLC, currently with $76.69 million in NKLA stock with ownership of nearly 2744.205% of the company’s market capitalization.

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165 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 30,673,798 shares. Additionally, 65 investors decreased positions by around 39,466,216 shares, while 24 investors held positions by with 29,254,431 shares. The mentioned changes placed institutional holdings at 40,885,583 shares, according to the latest SEC report filing. NKLA stock had 93 new institutional investments in for a total of 19,377,294 shares, while 48 institutional investors sold positions of 21,089,198 shares during the same period.

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