Nikola Corp [NASDAQ: NKLA] traded at a low on Friday, posting a -2.97 loss after which it closed the day’ session at $0.50.
The results of the trading session contributed to over 53983353 shares changing hands. Over the past one week, the price volatility of Nikola Corp stands at 4.46% while the volatility over the past one month is 5.75%.
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The market cap for NKLA stock reached $672.71 million, with 1.33 billion shares outstanding and 1.24 billion shares in the current float. Compared to the average trading volume of 91.18M shares, NKLA reached a trading volume of 53983353 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 $1.42 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 2.38. 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.
Bryan Garnier have made an estimate for Nikola Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 16, 2024. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on April 09, 2024, representing the official price target for Nikola Corp stock. Previously, the target price had yet another raise to $2, while Robert W. Baird analysts kept a Outperform rating on NKLA stock. On May 10, 2023, analysts decreased their price target for NKLA shares from 5 to 1.
The Average True Range (ATR) for Nikola Corp is set at 0.04, with the Price to Sales ratio for NKLA stock in the period of the last 12 months amounting to 20.60. The Price to Book ratio for the last quarter was 1.14, with the Price to Cash per share for the same quarter was set at 0.26.
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 -3.13. With this latest performance, NKLA shares dropped by -14.37% in over the last four-week period, additionally sinking by -49.52% over the last 6 months – not to mention a drop of -16.43% 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 37.93, with the RSI for the last a single of trading hit 37.78, and the three-weeks RSI is set at 39.11 for Nikola Corp [NKLA]. The present Moving Average for the last 50 days of trading for this stock 0.6561, while it was recorded at 0.5151 for the last single week of trading, and 0.8734 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 1.46 and a Current Ratio set at 1.73.
Insider trade positions for Nikola Corp [NKLA]
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%.
