Nikola Corp [NASDAQ: NKLA] price plunged by -2.33 percent to reach at -$0.02.
The one-year NKLA stock forecast points to a potential upside of 58.82. The average equity rating for NKLA stock is currently 2.57, trading closer to a bullish pattern in the stock market.
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 $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 2.57. 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.
Wolfe Research have made an estimate for Nikola Corp shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on April 09, 2024. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Outperform. The new note on the price target was released on January 24, 2024, representing the official price target for Nikola Corp stock. Previously, the target price had yet another drop from $5 to $1, while TD Cowen kept a Market Perform rating on NKLA stock.
The Average True Range (ATR) for Nikola Corp is set at 0.10, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 25.78. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 0.35.
NKLA Stock Performance Analysis:
Nikola Corp [NKLA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.34. With this latest performance, NKLA shares gained by 9.71% in over the last four-week period, additionally sinking by -49.25% over the last 6 months – not to mention a drop of -29.50% 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 41.03, with the RSI for the last a single of trading hit 34.33, and the three-weeks RSI is set at 44.25 for Nikola Corp [NKLA]. The present Moving Average for the last 50 days of trading for this stock 0.7553, while it was recorded at 0.8812 for the last single week of trading, and 1.1562 for the last 200 days.
Insight into Nikola Corp Fundamentals:
Nikola Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.96 and a Current Ratio set at 2.20.
Nikola Corp [NKLA] Institutonal Ownership Details
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%.
