For Nikola Corporation [NKLA], Analyst sees a drop to $1. What next?

Nikola Corporation [NASDAQ: NKLA] traded at a low on 09/08/23, posting a -15.37 loss after which it closed the day’ session at $0.88. The company report on August 31, 2023 at 7:55 AM that JOHN VESCO APPOINTED TO NIKOLA BOARD OF DIRECTORS.

More than 30 years of transportation and supply chain expertise joins Nikola’s leadership.

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Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced the appointment of John Vesco, a seasoned multi-modal transportation expert, to its Board of Directors. With a career spanning more than three decades, Vesco’s extensive executive leadership within prominent transportation and supply chain organizations, including Hub Group and Schneider, underscores his qualifications to contribute significantly to Nikola’s strategic growth initiatives.

The results of the trading session contributed to over 149620810 shares changing hands. Over the past one week, the price volatility of Nikola Corporation stands at 9.90% while the volatility over the past one month is 12.41%.

The market cap for NKLA stock reached $890.71 million, with 856.33 million shares outstanding and 757.52 million shares in the current float. Compared to the average trading volume of 85.91M shares, NKLA reached a trading volume of 149620810 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 $2.42 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 2.90. 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.

TD Cowen have made an estimate for Nikola Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on May 10, 2023.

The Average True Range (ATR) for Nikola Corporation is set at 0.21, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 15.54. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 0.22.

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 -25.42. With this latest performance, NKLA shares dropped by -54.63% in over the last four-week period, additionally sinking by -51.11% over the last 6 months – not to mention a drop of -82.98% 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 29.12, with the RSI for the last a single of trading hit 19.93, and the three-weeks RSI is set at 35.29 for Nikola Corporation [NKLA]. The present Moving Average for the last 50 days of trading for this stock 1.8423, while it was recorded at 1.0760 for the last single week of trading, and 1.7455 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 Total Capital for NKLA is now -88.99, given the latest momentum, and Return on Invested Capital for the company is -100.08. Return on Equity for this stock declined to -128.56, with Return on Assets sitting at -69.50. When it comes to the capital structure of this company, Nikola Corporation [NKLA] has a Total Debt to Total Equity ratio set at 72.74. Additionally, NKLA Total Debt to Total Capital is recorded at 42.11, with Total Debt to Total Assets ending up at 30.30. Long-Term Debt to Equity for the company is recorded at 60.75, with the Long-Term Debt to Total Capital now at 35.17.

Reflecting on the efficiency of the workforce at the company, Nikola Corporation [NKLA] managed to generate an average of -$522,825 per employee. Receivables Turnover for the company is 2.06 with a Total Asset Turnover recorded at a value of 0.05.

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]

The top three institutional holders of NKLA stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in NKLA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in NKLA stock with ownership which is approximately 5.7381%.

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