Nikola Corporation [NASDAQ: NKLA] jumped around 0.05 points on Tuesday, while shares priced at $2.60 at the close of the session, up 1.96%. The company report on January 17, 2023 that NIKOLA CORPORATION ANNOUNCES DATE FOR FOURTH QUARTER AND FULL YEAR 2022 RESULTS AND WEBCAST AND Q&A PLATFORM FOR SHAREHOLDERS.
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Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, today announced it will report its fourth quarter and full year ended December 31, 2022 financial results on Thursday, February 23, 2023. On that day, Nikola’s management will hold a conference call and webcast at 10:30 a.m. ET (7:30 a.m. PT) to review and discuss the company’s business and outlook.
To augment Nikola’s engagement with its shareholders and strengthen communication with investors, Nikola will utilize a Q&A platform developed by Say Technologies to allow verified retail and institutional investors to submit and upvote questions. Management will address a selection of the questions relating to Nikola’s business and financial results on the earnings call.
Nikola Corporation stock is now 20.37% up from its year-to-date (YTD) trading value. NKLA Stock saw the intraday high of $2.64 and lowest of $2.485 per share. The company’s 52-week high price is 11.87, which means current price is +23.81% above from all time high which was touched on 01/17/23.
Compared to the average trading volume of 11.72M shares, NKLA reached a trading volume of 7855861 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 $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 January 17, 2023. The new note on the price target was released on September 14, 2022, representing the official price target for Nikola Corporation stock. Previously, the target price had yet another drop from $11 to $8, while RBC Capital Mkts kept a Sector Perform rating on NKLA stock. On February 25, 2022, analysts decreased their price target for NKLA shares from 12 to 10.
The Average True Range (ATR) for Nikola Corporation is set at 0.20, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 29.61. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 0.63.
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 14.04. With this latest performance, NKLA shares gained by 23.22% in over the last four-week period, additionally sinking by -53.57% over the last 6 months – not to mention a drop of -74.51% 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 56.69, with the RSI for the last a single of trading hit 63.86, and the three-weeks RSI is set at 52.01 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 2.50, while it was recorded at 2.49 for the last single week of trading, and 4.97 for the last 200 days.
Nikola Corporation [NKLA]: Deeper insight into the fundamentals
Return on Equity for this stock declined to -82.14, with Return on Assets sitting at -67.18.
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 $269 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 $49.23 million in NKLA stocks shares; and STATE STREET CORP, currently with $15.76 million in NKLA stock with ownership of nearly 6.189% 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 127 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 14,647,093 shares. Additionally, 112 investors decreased positions by around 18,263,037 shares, while 98 investors held positions by with 70,460,999 shares. The mentioned changes placed institutional holdings at 103,371,129 shares, according to the latest SEC report filing. NKLA stock had 43 new institutional investments in for a total of 4,219,366 shares, while 42 institutional investors sold positions of 8,693,583 shares during the same period.