Nikola Corporation [NKLA] is 16.67% higher this YTD. Is it still time to buy?

Nikola Corporation [NASDAQ: NKLA] stock went on an upward path that rose over 5.44% on Friday, amounting to a one-week price increase of more than 0.40%. The company report on January 18, 2023 that Nikola Launches First Hydrogen Fuel Cell Truck Mobile Fueler.


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700 bar mobile fueler capable of direct fueling.

Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emission transportation and energy supply and infrastructure solutions, announced that it has developed an innovative, heavy-duty, 700 bar (10,000 psi) hydrogen mobile fueler capable of direct fueling hydrogen fuel cell electric vehicles (FCEVs).

Over the last 12 months, NKLA stock dropped by -70.80%. The one-year Nikola Corporation stock forecast points to a potential upside of 59.29. The average equity rating for NKLA stock is currently 2.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.22 billion, with 438.42 million shares outstanding and 324.62 million shares in the current float. Compared to the average trading volume of 11.39M shares, NKLA stock reached a trading volume of 9587044 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $6.19 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 27.65. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 0.65.

NKLA Stock Performance Analysis:

Nikola Corporation [NKLA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.40. With this latest performance, NKLA shares gained by 8.62% in over the last four-week period, additionally sinking by -60.13% over the last 6 months – not to mention a drop of -70.80% 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 53.34, with the RSI for the last a single of trading hit 56.71, and the three-weeks RSI is set at 50.31 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 2.48, while it was recorded at 2.51 for the last single week of trading, and 4.85 for the last 200 days.

Insight into Nikola Corporation Fundamentals:

Return on Equity for this stock declined to -82.14, with Return on Assets sitting at -67.18.

NKLA Stock EPS

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%.

Nikola Corporation [NKLA] Insider Position Details

There are presently around $260 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 $47.71 million in NKLA stocks shares; and STATE STREET CORP, currently with $15.27 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 124 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 14,640,911 shares. Additionally, 116 investors decreased positions by around 18,273,802 shares, while 99 investors held positions by with 70,450,954 shares. The mentioned changes placed institutional holdings at 103,365,667 shares, according to the latest SEC report filing. NKLA stock had 39 new institutional investments in for a total of 4,210,881 shares, while 46 institutional investors sold positions of 8,704,348 shares during the same period.

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