Nikola Corporation [NASDAQ: NKLA] slipped around -0.43 points on Friday, while shares priced at $9.45 at the close of the session, down -4.35%. The company report on November 4, 2021 that Nikola Corporation Reports Third Quarter 2021 Results.
– Up to 25 Tre BEV trucks are expected to be delivered to dealers and customers by the end of 2021 and Tre FCEV is on schedule, and testing has begun.
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– Continued progress building out the sales and service network with dealers in 28 states consisting of over 130 locations.
Nikola Corporation stock is now -38.07% down from its year-to-date (YTD) trading value. NKLA Stock saw the intraday high of $9.96 and lowest of $9.22 per share. The company’s 52-week high price is 30.40, which means current price is +4.77% above from all time high which was touched on 01/27/21.
Compared to the average trading volume of 11.15M shares, NKLA reached a trading volume of 14275523 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $17.44 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.
BTIG Research have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 05, 2021. While these analysts kept the previous recommendation, DA Davidson raised their target price to Neutral. The new note on the price target was released on August 11, 2021, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another raise to $18, while BTIG Research analysts kept a Buy rating on NKLA stock.
The Average True Range (ATR) for Nikola Corporation is set at 0.94, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 107896.01. The Price to Book ratio for the last quarter was 5.34, with the Price to Cash per share for the same quarter was set at 1.39.
How has NKLA stock performed recently?
Nikola Corporation [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.66. With this latest performance, NKLA shares dropped by -25.65% in over the last four-week period, additionally sinking by -46.46% over the last 6 months – not to mention a drop of -50.21% 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 34.40, with the RSI for the last a single of trading hit 28.05, and the three-weeks RSI is set at 38.66 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 11.58, while it was recorded at 9.86 for the last single week of trading, and 13.01 for the last 200 days.
Nikola Corporation [NKLA]: Deeper insight into the fundamentals
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.
Earnings analysis for Nikola Corporation [NKLA]
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 -0.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.80%. 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%.
Insider trade positions for Nikola Corporation [NKLA]
There are presently around $996 million, or 26.40% of NKLA stock, in the hands of institutional investors. The top three institutional holders of NKLA stocks are: VANGUARD GROUP INC with ownership of 18,432,442, which is approximately 15.702% of the company’s market cap and around 0.10% of the total institutional ownership; NORGES BANK, holding 17,038,863 shares of the stock with an approximate value of $161.02 million in NKLA stocks shares; and BLACKROCK INC., currently with $128.92 million in NKLA stock with ownership of nearly 13.447% of the company’s market capitalization.
Positions in Nikola Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 124 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 24,269,673 shares. Additionally, 95 investors decreased positions by around 5,644,381 shares, while 75 investors held positions by with 75,485,883 shares. The mentioned changes placed institutional holdings at 105,399,937 shares, according to the latest SEC report filing. NKLA stock had 48 new institutional investments in for a total of 5,293,897 shares, while 39 institutional investors sold positions of 2,368,880 shares during the same period.