Market Analysts see Nikola Corporation [NKLA] gaining to $25. Time to buy?

Nikola Corporation [NASDAQ: NKLA] price surged by 1.82 percent to reach at $0.42. 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.

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.

A sum of 13814387 shares traded at recent session while its average daily volume was at 21.72M shares. Nikola Corporation shares reached a high of $24.40 and dropped to a low of $22.12 until finishing in the latest session at $23.51.

The one-year NKLA stock forecast points to a potential upside of 11.85. The average equity rating for NKLA stock is currently 3.00, trading closer to a bullish pattern in the stock market.

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.

Wedbush have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 01, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price to In-line. The new note on the price target was released on December 16, 2020, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another raise to $35, while Loop Capital analysts kept a Buy rating on NKLA stock. On September 24, 2020, analysts decreased their price target for NKLA shares from 45 to 15.

The Average True Range (ATR) for Nikola Corporation is set at 2.33, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 62952.92. The Price to Book ratio for the last quarter was 8.22, 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 13.36. With this latest performance, NKLA shares gained by 47.12% in over the last four-week period, additionally sinking by -21.63% over the last 6 months – not to mention a rise of 127.18% 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 57.95, with the RSI for the last a single of trading hit 58.24, and the three-weeks RSI is set at 56.12 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 20.04, while it was recorded at 24.80 for the last single week of trading, and 30.59 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 $963 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 $118.53 million in NKLA stocks shares; and COATUE MANAGEMENT LLC, currently with $86.93 million in NKLA stock with ownership of nearly 2744.205% of the company’s market capitalization.

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158 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 30,742,547 shares. Additionally, 67 investors decreased positions by around 39,501,411 shares, while 31 investors held positions by with 29,274,004 shares. The mentioned changes placed institutional holdings at 40,969,954 shares, according to the latest SEC report filing. NKLA stock had 86 new institutional investments in for a total of 19,418,996 shares, while 51 institutional investors sold positions of 21,124,469 shares during the same period.

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