Nikola Corporation [NASDAQ: NKLA] traded at a high on 01/07/22, posting a 4.02 gain after which it closed the day’ session at $10.62. The company report on January 6, 2022 that SAIA SIGNS LETTER OF INTENT TO PURCHASE OR LEASE UP TO 100 NIKOLA ZERO-EMISSION TRUCKS.
Leader in LTL logistics is committed to reducing environmental impact in trucking.
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Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, today announced a collaboration with Saia LTL Freight (Saia), a less-than-truckload (LTL) company, to accelerate the implementation of heavy-duty electric transportation trucks. This collaboration includes a Letter of Intent (LOI) to purchase or lease 100 Nikola Tre heavy-duty battery electric vehicles (BEVs) following the satisfactory completion of a demonstration program.
The results of the trading session contributed to over 14038702 shares changing hands. Over the past one week, the price volatility of Nikola Corporation stands at 9.34% while the volatility over the past one month is 8.41%.
The market cap for NKLA stock reached $4.15 billion, with 400.22 million shares outstanding and 218.81 million shares in the current float. Compared to the average trading volume of 13.29M shares, NKLA reached a trading volume of 14038702 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 2.80. 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 0.85, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 4154331.56. The Price to Book ratio for the last quarter was 6.00, with the Price to Cash per share for the same quarter was set at 1.50.
How has NKLA stock performed recently?
Nikola Corporation [NKLA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.60. With this latest performance, NKLA shares gained by 2.61% in over the last four-week period, additionally sinking by -29.44% over the last 6 months – not to mention a drop of -40.17% 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 53.01, with the RSI for the last a single of trading hit 56.93, and the three-weeks RSI is set at 50.90 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 11.14, while it was recorded at 10.25 for the last single week of trading, and 12.20 for the last 200 days.
Earnings analysis for Nikola Corporation [NKLA]
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 $938 million, or 26.60% 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 $144.88 million in NKLA stocks shares; and INCLUSIVE CAPITAL PARTNERS, L.P., currently with $109.12 million in NKLA stock with ownership of nearly 0% of the company’s market capitalization.
120 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 18,089,579 shares. Additionally, 94 investors decreased positions by around 5,638,554 shares, while 75 investors held positions by with 64,620,505 shares. The mentioned changes placed institutional holdings at 88,348,638 shares, according to the latest SEC report filing. NKLA stock had 45 new institutional investments in for a total of 5,283,695 shares, while 38 institutional investors sold positions of 2,363,053 shares during the same period.