BTIG Research lifts Nikola Corporation [NKLA] price estimate. Who else is bullish?



Nikola Corporation [NASDAQ: NKLA] plunged by -$0.32 during the normal trading session on Friday and reaching a high of $10.605 during the day while it closed the day at $9.87. The company report on December 22, 2021 that Heniff Transportation Signs LOI with the Intent to Purchase 100 Zero-Emission Trucks from Thompson Truck Centers and Nikola.

Agreement includes an initial purchase or long-term lease of 10 battery-electric trucks.

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Heniff Transportation Systems, LLC has reached an agreement to initially acquire 10 Nikola Tre BEV trucks from Thompson Truck Centers, a member of the Nikola Corporation (Nasdaq: NKLA) sales and service dealer network. Nikola is a leading designer and manufacturer of heavy-duty commercial battery-electric vehicles (BEV), fuel-cell electric vehicles (FCEV) and energy infrastructure solutions.

Nikola Corporation stock has also loss -11.00% of its value over the past 7 days. However, NKLA stock has declined by -7.06% in the 3 months of the year. Over the past six months meanwhile, it has lost -39.96% and lost -35.32% year-on date.

The market cap for NKLA stock reached $3.40 billion, with 400.22 million shares outstanding and 218.81 million shares in the current float. Compared to the average trading volume of 12.48M shares, NKLA reached a trading volume of 10631651 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 0.83, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 91999.07. The Price to Book ratio for the last quarter was 5.58, with the Price to Cash per share for the same quarter was set at 1.70.

NKLA stock trade performance evaluation

Nikola Corporation [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.00. With this latest performance, NKLA shares gained by 3.89% in over the last four-week period, additionally sinking by -39.96% over the last 6 months – not to mention a drop of -35.32% 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 45.98, with the RSI for the last a single of trading hit 46.37, and the three-weeks RSI is set at 45.95 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 11.20, while it was recorded at 10.25 for the last single week of trading, and 12.32 for the last 200 days.

Nikola Corporation [NKLA]: An insightful look at the core 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 per share (EPS) analysis for Nikola Corporation [NKLA] stock

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%.

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Nikola Corporation [NKLA]: Insider Ownership positions

There are presently around $872 million, or 26.30% 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; BLACKROCK INC., holding 13,642,339 shares of the stock with an approximate value of $134.65 million in NKLA stocks shares; and INCLUSIVE CAPITAL PARTNERS, L.P., currently with $101.42 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 February and at the time of the February reporting period, where 120 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 18,089,578 shares. Additionally, 95 investors decreased positions by around 5,644,381 shares, while 75 investors held positions by with 64,614,633 shares. The mentioned changes placed institutional holdings at 88,348,592 shares, according to the latest SEC report filing. NKLA stock had 46 new institutional investments in for a total of 5,283,740 shares, while 39 institutional investors sold positions of 2,368,880 shares during the same period.