Nikola Corporation [NASDAQ: NKLA] loss -7.50% on the last trading session, reaching $11.84 price per share at the time. The company report on April 8, 2021 that Nikola and RIG360 Announce Expansive Sales and Service Dealer Network.
– Strategic partnership spans more than 65 service center locations.
– Service centers are ideally located in key metropolitan areas and at major intersections of the interstate highway system.
Nikola Corporation represents 386.35 million in outstanding shares, while the company has a total market value of $4.61 billion with the latest information. NKLA stock price has been found in the range of $11.63 to $12.7359.
If compared to the average trading volume of 13.75M shares, NKLA reached a trading volume of 14482544 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]:
Vertical Research have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 26, 2021. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $33 to $30. The new note on the price target was released on March 05, 2021, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another raise from $15 to $25, while Wedbush kept a Neutral rating on NKLA stock.
The Average True Range (ATR) for Nikola Corporation is set at 1.06, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 48505.36. The Price to Book ratio for the last quarter was 4.63, with the Price to Cash per share for the same quarter was set at 2.16.
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 -7.72. With this latest performance, NKLA shares dropped by -30.74% in over the last four-week period, additionally sinking by -52.64% over the last 6 months – not to mention a rise of 6.47% 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 30.29, with the RSI for the last a single of trading hit 26.80, and the three-weeks RSI is set at 33.92 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 17.77, while it was recorded at 12.57 for the last single week of trading, and 26.64 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 $805 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 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 14,045,793 shares of the stock with an approximate value of $166.3 million in NKLA stocks shares; and INCLUSIVE CAPITAL PARTNERS, L.P., currently with $121.66 million in NKLA stock with ownership of nearly New of the company’s market capitalization.
137 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 41,056,255 shares. Additionally, 104 investors decreased positions by around 13,883,379 shares, while 45 investors held positions by with 13,086,865 shares. The mentioned changes placed institutional holdings at 68,026,499 shares, according to the latest SEC report filing. NKLA stock had 80 new institutional investments in for a total of 34,435,161 shares, while 57 institutional investors sold positions of 8,281,417 shares during the same period.