Nikola Corporation [NASDAQ: NKLA] gained 1.00% or 0.12 points to close at $12.10 with a heavy trading volume of 7602076 shares. The company report on May 7, 2021 that Nikola Corporation Reports First Quarter 2021 Results.
Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation solutions, reported financial results for the quarter ended March 31, 2021.
“During the first quarter Nikola continued to deliver on our previously communicated milestones and execute on our business plan,” said Mark Russell, Nikola’s Chief Executive Officer. “We have had continued success in commissioning and validating the Nikola Tre BEVs, and are nearing completion of both our Ulm, Germany and Coolidge, Arizona manufacturing facilities.”.
It opened the trading session at $12.0455, the shares rose to $12.32 and dropped to $11.815, the range by which the price of stock traded the whole day. The daily chart for NKLA points out that the company has recorded -53.87% loss over the past six months. However, it is still -29.14% lower than its most recent low trading price.
If we look at the average trading volume of 13.82M shares, NKLA reached to a volume of 7602076 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NKLA shares is $18.17 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 2.70. 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.
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 1.02, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 53471.81. The Price to Book ratio for the last quarter was 5.19, with the Price to Cash per share for the same quarter was set at 1.82.
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 -6.64. With this latest performance, NKLA shares gained by 4.81% in over the last four-week period, additionally sinking by -53.87% over the last 6 months – not to mention a drop of -52.84% 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 48.80, with the RSI for the last a single of trading hit 49.18, and the three-weeks RSI is set at 47.17 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 12.66, while it was recorded at 12.70 for the last single week of trading, and 21.43 for the last 200 days.
Nikola Corporation [NKLA]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Nikola Corporation [NKLA] shares currently have an operating margin of -361723.16 and a Gross Margin at -6300.00. Nikola Corporation’s Net Margin is presently recorded at -418653.68.
Return on Total Capital for NKLA is now -55.21, given the latest momentum, and Return on Invested Capital for the company is -64.16. Return on Equity for this stock declined to -64.89, with Return on Assets sitting at -61.11. When it comes to the capital structure of this company, Nikola Corporation [NKLA] has a Total Debt to Total Equity ratio set at 1.94. Additionally, NKLA Total Debt to Total Capital is recorded at 1.90, with Total Debt to Total Assets ending up at 1.80. Long-Term Debt to Equity for the company is recorded at 1.41, with the Long-Term Debt to Total Capital now at 1.39.
Reflecting on the efficiency of the workforce at the company, Nikola Corporation [NKLA] managed to generate an average of -$883,824 per employee.
Nikola Corporation [NKLA]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Nikola Corporation posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -23.10%. 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 $962 million, or 20.70% 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 1.80% of the total institutional ownership; VANGUARD GROUP INC, holding 14,452,133 shares of the stock with an approximate value of $174.87 million in NKLA stocks shares; and INCLUSIVE CAPITAL PARTNERS, L.P., currently with $124.33 million in NKLA stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Nikola Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 131 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 37,685,447 shares. Additionally, 89 investors decreased positions by around 9,101,844 shares, while 63 investors held positions by with 32,757,295 shares. The mentioned changes placed institutional holdings at 79,544,586 shares, according to the latest SEC report filing. NKLA stock had 59 new institutional investments in for a total of 23,249,003 shares, while 40 institutional investors sold positions of 3,099,190 shares during the same period.