Nikola Corporation [NASDAQ: NKLA] stock went on a downward path that fall over -6.28% on Monday, amounting to a one-week price decrease of less than -13.09%. The company report on April 14, 2021 that Nikola, IVECO and OGE Announce Intent to Accelerate the Deployment of Hydrogen Infrastructure and Fueling Solutions.
– The collaboration is expected to enable cost-effective distribution of hydrogen from production to storage and fueling locations in Germany to serve industry needs.
– Nikola will lead the installation of hydrogen fueling locations for all OEM FCEVs at key locations supported by OGE’s hydrogen delivery systems.
Over the last 12 months, NKLA stock dropped by -12.35%. The average equity rating for NKLA stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.90 billion, with 386.35 million shares outstanding and 144.44 million shares in the current float. Compared to the average trading volume of 12.94M shares, NKLA stock reached a trading volume of 13279714 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 0.95, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 41100.43. The Price to Book ratio for the last quarter was 4.02, with the Price to Cash per share for the same quarter was set at 2.22.
NKLA Stock Performance Analysis:
Nikola Corporation [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.09. With this latest performance, NKLA shares dropped by -30.38% in over the last four-week period, additionally sinking by -55.84% over the last 6 months – not to mention a drop of -12.35% 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 27.29, with the RSI for the last a single of trading hit 23.63, and the three-weeks RSI is set at 31.23 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 16.52, while it was recorded at 11.14 for the last single week of trading, and 25.25 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 $701 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 $144.53 million in NKLA stocks shares; and INCLUSIVE CAPITAL PARTNERS, L.P., currently with $105.73 million in NKLA stock with ownership of nearly New of the company’s market capitalization.
139 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 41,116,552 shares. Additionally, 102 investors decreased positions by around 13,881,804 shares, while 45 investors held positions by with 13,104,555 shares. The mentioned changes placed institutional holdings at 68,102,911 shares, according to the latest SEC report filing. NKLA stock had 80 new institutional investments in for a total of 34,495,706 shares, while 56 institutional investors sold positions of 8,280,592 shares during the same period.