Nikola Corp [NASDAQ: NKLA] surged by $0.07 during the normal trading session on while it closed the day at $1.02. The company report on April 4, 2024 at 4:05 PM that NIKOLA CORPORATION ANNOUNCES DATE FOR FIRST QUARTER 2024 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 its first quarter ended March 31, 2024 financial results and business updates on Tuesday, May 7, 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.
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.
Nikola Corp stock has also loss -1.92% of its value over the past 7 days. However, NKLA stock has inclined by 28.22% in the 3 months of the year. Over the past six months meanwhile, it has lost -28.17% and gained 16.60% year-on date.
The market cap for NKLA stock reached $1.36 billion, with 1.33 billion shares outstanding and 1.22 billion shares in the current float. Compared to the average trading volume of 94.47M shares, NKLA reached a trading volume of 113308922 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $1.70 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 2.50. 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 0.09, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 37.55. The Price to Book ratio for the last quarter was 1.89, with the Price to Cash per share for the same quarter was set at 0.35.
NKLA stock trade performance evaluation
Nikola Corp [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.92. With this latest performance, NKLA shares gained by 45.09% in over the last four-week period, additionally sinking by -28.17% over the last 6 months – not to mention a drop of -16.39% 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 67.68, with the RSI for the last a single of trading hit 70.09, and the three-weeks RSI is set at 64.53 for Nikola Corp [NKLA]. The present Moving Average for the last 50 days of trading for this stock 0.7411, while it was recorded at 0.9731 for the last single week of trading, and 1.1657 for the last 200 days.
Nikola Corp [NKLA]: An insightful look at the core 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 per share (EPS) analysis for Nikola Corp [NKLA] stock
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.
Nikola Corp [NKLA]: Institutional Ownership
The top three institutional holders of NKLA stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NKLA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NKLA stock with ownership which is approximately 5.8386%.
