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Nikola Corporation (NKLA) Analysis & Forecast for 2021

Nikola Corporation (NASDAQ: NKLA) is -8.85% 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 $13.89 in the last trading session, with the day’s gains setting it 0.02% off its average median price target of $25.00 for the next 12 months. It is also 70.4% off the consensus price target high of $47.00 offered by 8 analysts, but current levels are 7.27% higher than the price target low of $15.00 for the same period.

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Currently trading at $13.91, the stock is -8.99% and -27.31% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 14.05 million and changing 0.14% at the moment leaves the stock -51.36% off its SMA200. NKLA registered 31.35% gain for a year compared to 6-month loss of -32.08%. The firm has a 50-day simple moving average (SMA 50) of $16.88 and a 200-day simple moving average (SMA200) of $20.26.

The stock witnessed a -15.90% gain in the last 1 month and extending the period to 3 months gives it a -12.95%, and is -2.04% 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 6.36% over the week and 7.13% over the month.

Nikola Corporation (NKLA) has around 450 employees, a market worth around $5.44B and $0.10M in sales. Distance from 52-week low is 32.35% and -85.20% 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 2.70, 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 -80.60% this year, but quarterly earnings will post 22,710.50% year-over-year. Quarterly sales are estimated to shrink -65.50% in year-over-year returns.

Nikola Corporation (NKLA) Top Institutional Holders

287 institutions hold shares in Nikola Corporation (NKLA), with 230.47M shares held by insiders accounting for 58.80% while institutional investors hold 43.40% 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 17.88% 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 3,500,000 shares of the company’s common stock on Mar 31 at a price of $13.89 per share for a total of $48.62 million. Following the sale, the insider now owns 79.08 million shares.

Nikola Corporation disclosed in a document filed with the SEC on Mar 02 that Milton Trevor R. (10% Owner) sold a total of 552,486 shares of the company’s common stock. The trade occurred on Mar 02 and was made at $14.48 per share for $8.0 million. Following the transaction, the insider now directly holds 82.95 million shares of the NKLA stock.

Still, SEC filings show that on Sep 14, Milton Trevor R. (Executive Chairman) acquired 41,400 shares at an average price of $30.91 for $1.28 million. The insider now directly holds 91,644,134 shares of Nikola Corporation (NKLA).

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