Nikola Corporation [NASDAQ: NKLA] loss -3.24% on the last trading session, reaching $16.44 price per share at the time. The company report on June 23, 2021 that Nikola Invests $50 Million In Wabash Valley Resources To Produce Clean Hydrogen In The Midwest For Zero-Emission Nikola Trucks.
Nikola Corporation (NASDAQ:NKLA), a global leader in zero-emissions transportation and infrastructure solutions, and Wabash Valley Resources LLC (WVR) announced that Nikola is investing $50 million in cash and stock in exchange for a 20% equity interest in the clean hydrogen project being developed in West Terre Haute, Ind. The project plans to use solid waste byproducts such as petroleum coke combined with biomass to produce clean, sustainable hydrogen for transportation fuel and base-load electricity generation while capturing CO2 emissions for permanent underground sequestration. Once completed, the project is expected to be one of the largest carbon capture and clean hydrogen production projects in the United States. The focus is to produce zero-carbon intensity hydrogen with the potential to develop negative carbon intensity hydrogen in the future.
Working together, Nikola and WVR expect to lead in the transition to clean transportation fuels for trucking operations within the Midwest, one of the most intensive commercial transportation corridors in the United States.
Nikola Corporation represents 392.19 million in outstanding shares, while the company has a total market value of $6.69 billion with the latest information. NKLA stock price has been found in the range of $16.361 to $17.25.
If compared to the average trading volume of 14.61M shares, NKLA reached a trading volume of 7114196 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 $18.14 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 2.60. 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.
BTIG Research have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 28, 2021. While these analysts kept the previous recommendation, Vertical Research raised their target price to Buy. The new note on the price target was released on March 26, 2021, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another drop from $33 to $30, while JP Morgan kept a Overweight rating on NKLA stock. On February 01, 2021, analysts increased their price target for NKLA shares from 15 to 25.
The Average True Range (ATR) for Nikola Corporation is set at 1.29, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 180853.34. The Price to Book ratio for the last quarter was 7.06, with the Price to Cash per share for the same quarter was set at 1.88.
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 -9.17. With this latest performance, NKLA shares dropped by -2.61% in over the last four-week period, additionally plugging by 7.73% over the last 6 months – not to mention a drop of -71.25% 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 49.40, with the RSI for the last a single of trading hit 44.21, and the three-weeks RSI is set at 51.49 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 14.63, while it was recorded at 17.63 for the last single week of trading, and 18.18 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
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 $1,308 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 $237.59 million in NKLA stocks shares; and INCLUSIVE CAPITAL PARTNERS, L.P., currently with $168.93 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 August and at the time of the August reporting period, where 130 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 37,686,884 shares. Additionally, 91 investors decreased positions by around 9,103,584 shares, while 62 investors held positions by with 32,758,185 shares. The mentioned changes placed institutional holdings at 79,548,653 shares, according to the latest SEC report filing. NKLA stock had 58 new institutional investments in for a total of 23,250,440 shares, while 41 institutional investors sold positions of 3,099,210 shares during the same period.