Nikola Corporation [NKLA] is 3.87% higher this YTD. Is it still time to buy?

Nikola Corporation [NASDAQ: NKLA] surged by $1.23 during the normal trading session on Tuesday and reaching a high of $16.17 during the day while it closed the day at $15.85. The company report on February 27, 2021 that NIKOLA INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Nikola Corporation – NKLA, NKLAW.

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Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Nikola Corporation (NasdaqGS: NKLA, NKLAW) f/k/a VectoIQ Acquisition Corp. (NasdaqCM: VTIQ, VTIQW, VTIQU).

On September 10, 2020, Hindenburg Research published a report alleging that evidence showed the Company was “an intricate fraud built on dozens of lies.” Subsequently, it was reported that the Company was the subject of probes by both the U.S. Securities and Exchange Commission and the Justice Department. Then, on September 21, 2020, the Company announced the sudden resignation of Founder and Executive Chairman, Trevor Milton.

Nikola Corporation stock has also loss -11.40% of its value over the past 7 days. However, NKLA stock has declined by -16.05% in the 3 months of the year. Over the past six months meanwhile, it has lost -55.41% and gained 3.87% year-on date.

The market cap for NKLA stock reached $6.68 billion, with 386.35 million shares outstanding and 144.44 million shares in the current float. Compared to the average trading volume of 15.53M shares, NKLA reached a trading volume of 11479202 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]:

JP Morgan have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 05, 2021. While these analysts kept the previous recommendation, Wedbush raised their target price from $15 to $25. The new note on the price target was released on February 01, 2021, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another raise to $20, while Evercore ISI analysts kept a In-line rating on NKLA stock.

The Average True Range (ATR) for Nikola Corporation is set at 1.66, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 70352.31. The Price to Book ratio for the last quarter was 6.19, with the Price to Cash per share for the same quarter was set at 1.99.

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 -11.40. With this latest performance, NKLA shares dropped by -32.84% in over the last four-week period, additionally sinking by -55.41% over the last 6 months – not to mention a rise of 34.78% 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 35.96, with the RSI for the last a single of trading hit 32.70, and the three-weeks RSI is set at 39.47 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 19.82, while it was recorded at 15.59 for the last single week of trading, and 30.97 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 $1,078 million, or 17.80% of NKLA stock, in the hands of institutional investors. The top three institutional holders of NKLA stocks are: NORGES BANK with ownership of 17,038,863, which is approximately New of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 14,045,793 shares of the stock with an approximate value of $222.63 million in NKLA stocks shares; and INCLUSIVE CAPITAL PARTNERS, L.P., currently with $162.87 million in NKLA stock with ownership of nearly New of the company’s market capitalization.

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138 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 41,055,166 shares. Additionally, 108 investors decreased positions by around 13,912,183 shares, while 43 investors held positions by with 13,057,230 shares. The mentioned changes placed institutional holdings at 68,024,579 shares, according to the latest SEC report filing. NKLA stock had 81 new institutional investments in for a total of 34,434,261 shares, while 61 institutional investors sold positions of 8,310,221 shares during the same period.

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