Nikola Corp [NASDAQ: NKLA] gained 0.72% or -216.75 points to close at $0.71 with a heavy trading volume of 97.17M shares. The company report on February 9, 2024 at 8:05 AM that Nikola Rejects Slate of Directors Nominated by Trevor Milton for Election to Nikola Board of Directors.
Milton, Former Executive Chair, Criminally Convicted and Sentenced to 48 Months in Prison.
Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, said today that its Board of Directors has rejected a slate of five dissident nominees proposed by an entity controlled by former Executive Chairman Trevor Milton for election as directors at Nikola’s 2024 Annual Meeting of Stockholders.
The daily chart for NKLA points out that the company has recorded -63.27% loss over the past six months.
If we look at the average trading volume of 0.69 shares, NKLA reached to a volume of 97.17M in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 0.06, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 26.62. The Price to Book ratio for the last quarter was 1.18, with the Price to Cash per share for the same quarter was set at 0.31.
Trading performance analysis for NKLA stock
Nikola Corp [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.11. With this latest performance, NKLA shares dropped by -7.34% in over the last four-week period, additionally sinking by -63.27% over the last 6 months – not to mention a drop of -71.65% 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 47.85, with the RSI for the last a single of trading hit 50.54, and the three-weeks RSI is set at 46.10 for Nikola Corp [NKLA]. The present Moving Average for the last 50 days of trading for this stock 0.7888, while it was recorded at 0.7020 for the last single week of trading, and 1.1770 for the last 200 days.
Nikola Corp [NKLA]: A deeper dive into fundamental analysis
Nikola Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.41 and a Current Ratio set at 1.60.
Nikola Corp [NKLA]: An earnings per share (EPS) analysis
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.
An analysis of Institutional ownership at 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%.
