Nikola Corporation [NASDAQ: NKLA] loss -6.27% on the last trading session, reaching $14.06 price per share at the time. The company report on March 13, 2021 that NIKOLA INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Nikola Corporation – NKLA, NKLAW.
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).
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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 represents 386.35 million in outstanding shares, while the company has a total market value of $5.28 billion with the latest information. NKLA stock price has been found in the range of $14.045 to $15.20.
If compared to the average trading volume of 14.86M shares, NKLA reached a trading volume of 10638036 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 1.26, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 55600.64. The Price to Book ratio for the last quarter was 5.49, with the Price to Cash per share for the same quarter was set at 2.24.
Trading performance analysis for NKLA stock
Nikola Corporation [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.22. With this latest performance, NKLA shares dropped by -28.59% in over the last four-week period, additionally sinking by -50.68% over the last 6 months – not to mention a rise of 30.06% 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 34.21, with the RSI for the last a single of trading hit 30.71, and the three-weeks RSI is set at 37.49 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 19.74, while it was recorded at 14.96 for the last single week of trading, and 29.93 for the last 200 days.
Nikola Corporation [NKLA]: A deeper dive into fundamental analysis
Nikola Corporation [NKLA]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at Nikola Corporation [NKLA]
There are presently around $956 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 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 14,045,793 shares of the stock with an approximate value of $197.48 million in NKLA stocks shares; and INCLUSIVE CAPITAL PARTNERS, L.P., currently with $144.47 million in NKLA stock with ownership of nearly New of the company’s market capitalization.
138 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 41,056,166 shares. Additionally, 107 investors decreased positions by around 13,891,683 shares, while 44 investors held positions by with 13,077,750 shares. The mentioned changes placed institutional holdings at 68,025,599 shares, according to the latest SEC report filing. NKLA stock had 81 new institutional investments in for a total of 34,435,261 shares, while 60 institutional investors sold positions of 8,289,721 shares during the same period.