Nikola Corporation (NASDAQ: NKLA) is -9.63% lower on its value in year-to-date trading and has touched a low of $10.51 and a high of $93.99 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NKLA stock was last observed hovering at around $14.15 in the last trading session, with the day’s loss setting it -0.36% off its average median price target of $25.00 for the next 12 months. It is also 70.66% off the consensus price target high of $47.00 offered by 8 analysts, but current levels are 18.88% higher than the price target low of $17.00 for the same period.
Currently trading at $13.79, the stock is -12.87% and -29.38% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.38 million and changing -2.54% at the moment leaves the stock -53.02% off its SMA200. NKLA registered 26.75% gain for a year compared to 6-month loss of -29.14%. The firm has a 50-day simple moving average (SMA 50) of $18.10 and a 200-day simple moving average (SMA200) of $20.86.
The stock witnessed a -23.81% gain in the last 1 month and extending the period to 3 months gives it a 0.29%, and is -11.32% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.37% over the week and 7.28% over the month.
Nikola Corporation (NKLA) has around 450 employees, a market worth around $5.42B and $0.10M in sales. Distance from 52-week low is 31.21% and -85.33% from its 52-week high.
Nikola Corporation (NKLA) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Nikola Corporation (NKLA) is a “Hold”. 8 analysts offering their recommendations for the stock have an average rating of 2.90, where 6 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Nikola Corporation quarterly earnings per share for the current quarter are estimated at -$0.26 with sales reaching $20k over the same period.The EPS is expected to shrink by -72.60% this year, but quarterly earnings will post 22,794.70% year-over-year. Quarterly sales are estimated to shrink -65.50% in year-over-year returns.
Nikola Corporation (NKLA) Top Institutional Holders
257 institutions hold shares in Nikola Corporation (NKLA), with 244.53M shares held by insiders accounting for 62.39% while institutional investors hold 36.52% of the company’s shares. The shares outstanding are 386.35M, and float is at 144.44M with Short Float at 23.24%. Institutions hold 13.73% of the Float.
The top institutional shareholder in the company is Norges Bank Investment Management with over 17.04 million shares valued at $260.01 million. The investor’s holdings represent 4.35% of the NKLA Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 14.05 million shares valued at $214.34 million to account for 3.58% of the shares outstanding. The other top investors are Inclusive Capital Partners, LP which holds 10.28 million shares representing 2.62% and valued at over $156.8 million, while FMR, LLC holds 0.76% of the shares totaling 2.96 million with a market value of $45.19 million.
Nikola Corporation (NKLA) Insider Activity
The most recent transaction is an insider sale by Milton Trevor R. ,the company’s10% Owner. SEC filings show that Milton Trevor R. sold 552,486 shares of the company’s common stock on Mar 02 at a price of $14.48 per share for a total of $8.0 million. Following the sale, the insider now owns 82.95 million shares.
Nikola Corporation disclosed in a document filed with the SEC on Sep 14 that Milton Trevor R. (Executive Chairman) bought a total of 41,400 shares of the company’s common stock. The trade occurred on Sep 14 and was made at $30.91 per share for $1.28 million. Following the transaction, the insider now directly holds 91.64 million shares of the NKLA stock.
Still, SEC filings show that on Aug 11, UBBEN JEFFREY W (Director) disposed off 1,400,000 shares at an average price of $42.69 for $59.77 million. The insider now directly holds 10,275,437 shares of Nikola Corporation (NKLA).