Nikola Corporation [NASDAQ: NKLA] gained 13.62% on the last trading session, reaching $2.42 price per share at the time. The company report on December 15, 2022 that NIKOLA AND PLUG ANNOUNCE STRATEGIC COLLABORATION TO PUSH HYDROGEN ECONOMY FORWARD.
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Plug to purchase up to 75 Nikola Tre hydrogen fuel-cell electric vehicles for green hydrogen delivery.
Nikola to purchase 30 metric-tons per day liquefaction system from Plug for the Ariz. hydrogen hub project.
Nikola Corporation represents 438.42 million in outstanding shares, while the company has a total market value of $1.02 billion with the latest information. NKLA stock price has been found in the range of $2.17 to $2.45.
If compared to the average trading volume of 12.53M shares, NKLA reached a trading volume of 32510248 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 $6.44 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 2.60. 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 September 14, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $11 to $8. The new note on the price target was released on February 25, 2022, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another drop from $12 to $10, while JP Morgan kept a Neutral rating on NKLA stock. On February 25, 2022, analysts decreased their price target for NKLA shares from 19 to 11.
The Average True Range (ATR) for Nikola Corporation is set at 0.22, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 23.02. The Price to Book ratio for the last quarter was 1.88, with the Price to Cash per share for the same quarter was set at 0.75.
Trading performance analysis for NKLA stock
Nikola Corporation [NKLA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.31. With this latest performance, NKLA shares dropped by -19.06% in over the last four-week period, additionally sinking by -57.39% over the last 6 months – not to mention a drop of -74.03% 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 45.66, with the RSI for the last a single of trading hit 49.93, and the three-weeks RSI is set at 43.28 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 2.79, while it was recorded at 2.23 for the last single week of trading, and 5.56 for the last 200 days.
Nikola Corporation [NKLA]: A deeper dive into fundamental analysis
Return on Equity for this stock declined to -82.14, with Return on Assets sitting at -67.18.
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 $291 million, or 25.80% of NKLA stock, in the hands of institutional investors. The top three institutional holders of NKLA stocks are: VANGUARD GROUP INC with ownership of 25,523,620, which is approximately 7.609% of the company’s market cap and around 0.90% of the total institutional ownership; BLACKROCK INC., holding 18,933,176 shares of the stock with an approximate value of $45.82 million in NKLA stocks shares; and NORGES BANK, currently with $41.23 million in NKLA stock with ownership of nearly -7.4% 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 126 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 14,646,155 shares. Additionally, 112 investors decreased positions by around 19,619,723 shares, while 101 investors held positions by with 86,156,986 shares. The mentioned changes placed institutional holdings at 120,422,864 shares, according to the latest SEC report filing. NKLA stock had 40 new institutional investments in for a total of 4,218,185 shares, while 44 institutional investors sold positions of 8,694,638 shares during the same period.