Nikola Corp (NASDAQ:NKLA) does about 95.04M shares in volume on a normal day but saw 46704408 shares change hands in Monday trading. The company now has a market cap of 1.35B USD. Its current market price is $1.01, marking a decrease of -0.98% compared to the previous close of $1.02. The 52 week high reached by this stock is $3.71 whilst the lowest price level in 52 weeks is $0.52.
Nikola Corp (NKLA) has a 20-day trading average at $0.7877 and the current price is -72.78% off the 52-week high compared with 93.86% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.7473 and its 200-day simple moving average is $1.1635. If we look at the stock’s price movements over the week, volatility stands at 10.88%, which decreases to 10.79% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 66.59 to suggest the stock is neutral.
The consensus objective for the share price is $1.70, suggesting that the stock has a potential upside of 40.59% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 24, 2024 when Robert W. Baird initiated the stock to “Outperform” and issued a price target of $2. TD Cowen downgraded the stock to “Market Perform” from Outperform on May 10, 2023 at a price target of $5-$1.
Nikola Corp (NKLA) stock is down -1.94% over the week and 47.12% over the past month. Its price is 15.45% year-to-date and -13.68% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of -$0.11 above consensus estimates by $0.02. NKLA’s earnings per share are forecast to grow by 49.40% this year and 22.50% over next year. Expected sales for next quarter are $23.95 million, which analysts say will come at $170.76 million for the current fiscal year and next year at $488.31 million. In addition, estimates put the company’s current quarterly revenue at an average of $14.98 million.
To reach the target analysts have set, the stock logically needs to grow 40.59 percent from here.
Outstanding shares total 1.33B with insiders holding 7.46% of the shares and institutional holders owning 33.55% of the company’s common stock. The company has a return on investment of -97.29% and return on equity of -142.65%. The beta has a value of 2.00. Price to book ratio is 1.87 and price to sales ratio is 37.18.
