Nikola Corporation [NASDAQ: NKLA] traded at a low on 03/10/23, posting a -7.78 loss after which it closed the day’ session at $1.66. The company report on February 23, 2023 that Nikola Corporation Reports Fourth Quarter and Full Year 2022 Results.
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Reported GAAP net loss per share of $0.46 and non-GAAP net loss per share of $0.37 for Q4 2022.
Advancing deployment of zero-emissions trucks in fleets through innovative integrated mobility solutions.
The results of the trading session contributed to over 17322796 shares changing hands. Over the past one week, the price volatility of Nikola Corporation stands at 7.18% while the volatility over the past one month is 6.45%.
The market cap for NKLA stock reached $997.79 million, with 488.05 million shares outstanding and 324.62 million shares in the current float. Compared to the average trading volume of 12.89M shares, NKLA reached a trading volume of 17322796 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 $5.43 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 2.50. 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 0.16, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 19.64. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 0.39.
How has NKLA stock performed recently?
Nikola Corporation [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.79. With this latest performance, NKLA shares dropped by -34.65% in over the last four-week period, additionally sinking by -68.38% over the last 6 months – not to mention a drop of -78.91% 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 23.55, with the RSI for the last a single of trading hit 14.05, and the three-weeks RSI is set at 30.55 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 2.3826, while it was recorded at 1.8820 for the last single week of trading, and 4.0251 for the last 200 days.
Nikola Corporation [NKLA]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Nikola Corporation [NKLA] shares currently have an operating margin of -1427.45 and a Gross Margin at -251.96. Nikola Corporation’s Net Margin is presently recorded at -1543.02.
Return on Equity for this stock declined to -128.56, with Return on Assets sitting at -69.50.
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 $238 million, or 25.80% of NKLA stock, in the hands of institutional investors. The top three institutional holders of NKLA stocks are: NORGES BANK with ownership of 33,581,371, which is approximately 97.087% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 31,513,851 shares of the stock with an approximate value of $52.31 million in NKLA stocks shares; and BLACKROCK INC., currently with $39.08 million in NKLA stock with ownership of nearly 24.336% of the company’s market capitalization.
Positions in Nikola Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 135 institutional holders increased their position in Nikola Corporation [NASDAQ:NKLA] by around 39,585,703 shares. Additionally, 142 investors decreased positions by around 16,838,142 shares, while 68 investors held positions by with 86,704,542 shares. The mentioned changes placed institutional holdings at 143,128,387 shares, according to the latest SEC report filing. NKLA stock had 51 new institutional investments in for a total of 2,031,334 shares, while 77 institutional investors sold positions of 7,395,782 shares during the same period.