Nikola Corp [NASDAQ: NKLA] traded at a low on Friday, posting a -1.65 loss after which it closed the day’ session at $0.73. The company report on February 22, 2024 at 8:55 AM that Nikola Corporation Reports Fourth Quarter and Full Year 2023 Results.
Delivered the first production hydrogen fuel cell electric truck available in North America.
Delivered 35 hydrogen fuel cell electric trucks in Q4 ending the period with no finished goods inventory.
The results of the trading session contributed to over 66019373 shares changing hands. Over the past one week, the price volatility of Nikola Corp stands at 7.79% while the volatility over the past one month is 8.43%.
The market cap for NKLA stock reached $977.54 million, with 1.33 billion shares outstanding and 1.22 billion shares in the current float. Compared to the average trading volume of 106.69M shares, NKLA reached a trading volume of 66019373 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 $1.88 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 2.40. 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. While these analysts kept the previous recommendation, TD Cowen dropped their target price from $5 to $1. The new note on the price target was released on May 10, 2023, representing the official price target for Nikola Corp stock.
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 26.94. The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 0.35.
How has NKLA stock performed recently?
Nikola Corp [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.24. With this latest performance, NKLA shares dropped by -2.06% in over the last four-week period, additionally sinking by -42.37% over the last 6 months – not to mention a drop of -66.12% 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 49.65, with the RSI for the last a single of trading hit 50.07, and the three-weeks RSI is set at 48.37 for Nikola Corp [NKLA]. The present Moving Average for the last 50 days of trading for this stock 0.7477, while it was recorded at 0.7446 for the last single week of trading, and 1.1677 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 1.96 and a Current Ratio set at 2.20.
Earnings analysis for Nikola Corp [NKLA]
With the latest financial reports released by the company, Nikola Corp posted -0.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.26/share. 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%.
