Nikola Corp [NKLA] Is Currently 1.00 below its 200 Period Moving Avg: What Does This Mean?

Nikola Corp [NASDAQ: NKLA] jumped around 0.01 points on Friday, while shares priced at $0.71 at the close of the session, up 1.00%. The company report on January 23, 2024 at 8:05 AM that NIKOLA CORPORATION ANNOUNCES DATE FOR FOURTH QUARTER AND FULL YEAR 2023 RESULTS AND WEBCAST AND Q&A PLATFORM FOR SHAREHOLDERS.

Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced it will report is fourth quarter and full year ended December 31, 2023 financial results and business updates on Thursday, February 22, 2024. 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.

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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.

Compared to the average trading volume of 90.94M shares, NKLA reached a trading volume of 83715062 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 Corp [NKLA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NKLA shares is $2.00 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 2.57. 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.

Robert W. Baird have made an estimate for Nikola Corp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 24, 2024.

The Average True Range (ATR) for Nikola Corp is set at 0.07, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 26.16. The Price to Book ratio for the last quarter was 1.16, with the Price to Cash per share for the same quarter was set at 0.31.

How has NKLA stock performed recently?

Nikola Corp [NKLA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.51. With this latest performance, NKLA shares dropped by -20.25% in over the last four-week period, additionally sinking by -66.30% over the last 6 months – not to mention a drop of -73.50% 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 44.14, with the RSI for the last a single of trading hit 48.03, and the three-weeks RSI is set at 43.04 for Nikola Corp [NKLA]. The present Moving Average for the last 50 days of trading for this stock 0.8442, while it was recorded at 0.6806 for the last single week of trading, and 1.1860 for the last 200 days.

Nikola Corp [NKLA]: Deeper insight into the fundamentals

Nikola Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.41 and a Current Ratio set at 1.60.

Earnings analysis for Nikola Corp [NKLA]

With the latest financial reports released by the company, Nikola Corp posted -0.37/share EPS, while the average EPS was predicted by analysts to be reported at -0.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.00%. 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.

Insider trade positions for Nikola Corp [NKLA]

The top three institutional holders of NKLA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NKLA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NKLA stock with ownership which is approximately 5.8325%.