Nikola Corporation [NKLA] is -34.27% lower this YTD. Is it still time to buy?

Nikola Corporation [NASDAQ: NKLA] gained 3.83% on the last trading session, reaching $10.03 price per share at the time. The company report on September 2, 2021 that Nikola Announces Strategic Agreements With Bosch For Fuel-cell Manufacturing.

– Nikola and Bosch Group companies have signed agreements for Nikola to utilize fuel-cell power modules using technology licensed from Bosch

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– The agreements allow Nikola to incorporate fuel-cell power modules suited to meet the needs of Nikola’s vehicles, providing for competitive cost and performance advantages

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Nikola Corporation represents 394.58 million in outstanding shares, while the company has a total market value of $4.07 billion with the latest information. NKLA stock price has been found in the range of $9.52 to $10.19.

If compared to the average trading volume of 12.01M shares, NKLA reached a trading volume of 10679873 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 $15.38 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.

DA Davidson have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 11, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on May 28, 2021, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another raise to $24, while Vertical Research analysts kept a Buy rating on NKLA stock. On March 05, 2021, analysts decreased their price target for NKLA shares from 33 to 30.

The Average True Range (ATR) for Nikola Corporation is set at 0.63, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 109969.46. The Price to Book ratio for the last quarter was 4.62, with the Price to Cash per share for the same quarter was set at 1.56.

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 -4.11. With this latest performance, NKLA shares gained by 0.80% in over the last four-week period, additionally sinking by -41.21% over the last 6 months – not to mention a drop of -68.78% 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 44.14, with the RSI for the last a single of trading hit 46.35, and the three-weeks RSI is set at 42.99 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 11.79, while it was recorded at 10.04 for the last single week of trading, and 15.47 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 $933 million, or 23.90% 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 70.389% of the company’s market cap and around 1.60% of the total institutional ownership; VANGUARD GROUP INC, holding 15,930,936 shares of the stock with an approximate value of $159.79 million in NKLA stocks shares; and BLACKROCK INC., currently with $120.61 million in NKLA stock with ownership of nearly 299.93% of the company’s market capitalization.

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139 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 31,670,476 shares. Additionally, 101 investors decreased positions by around 11,377,860 shares, while 70 investors held positions by with 49,955,563 shares. The mentioned changes placed institutional holdings at 93,003,899 shares, according to the latest SEC report filing. NKLA stock had 71 new institutional investments in for a total of 3,557,161 shares, while 60 institutional investors sold positions of 4,343,874 shares during the same period.

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