Nikola Corp [NASDAQ: NKLA] stock went on a downward path that fall over -1.35% on Friday, amounting to a one-week price increase of more than 2.76%. The company report on February 16, 2024 at 8:05 AM that CARLA TULLY APPOINTED TO NIKOLA BOARD OF DIRECTORS.
Energy expert joins Nikola’s Board as 2024 infrastructure business expands.
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 energy and infrastructure expert Carla Tully, to its Board of Directors. Over more than two decades, Tully has built a successful track record leading and scaling energy organizations across Fortune 150, private equity, startup, and government entities. Tully serves as the Vice Chair of Earthrise Energy’s Board of Directors, a Board Director for Citizens for Responsible Energy Solutions Forum and as an Advisor to several energy transition startups.
Over the last 12 months, NKLA stock dropped by -72.29%. The one-year Nikola Corp stock forecast points to a potential upside of 63.0. The average equity rating for NKLA stock is currently 2.57, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $856.53 million, with 1.16 billion shares outstanding and 1.06 billion shares in the current float. Compared to the average trading volume of 99.04M shares, NKLA stock reached a trading volume of 61864274 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 27.36. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 0.31.
NKLA Stock Performance Analysis:
Nikola Corp [NKLA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.76. With this latest performance, NKLA shares gained by 18.99% in over the last four-week period, additionally sinking by -60.43% over the last 6 months – not to mention a drop of -72.29% 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 50.90, with the RSI for the last a single of trading hit 54.20, and the three-weeks RSI is set at 48.44 for Nikola Corp [NKLA]. The present Moving Average for the last 50 days of trading for this stock 0.7616, while it was recorded at 0.7238 for the last single week of trading, and 1.1738 for the last 200 days.
Insight into Nikola Corp 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.
NKLA Stock EPS
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.
Nikola Corp [NKLA] Institutonal Ownership Details
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%.
