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Nikola Corporation (NKLA) Volatility At 10.92%, Should You Add A Position?

Nikola Corporation (NASDAQ: NKLA) is -18.98% lower on its value in year-to-date trading and has touched a low of $1.55 and a high of $11.87 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 $1.64 in the last trading session, with the day’s gains setting it 0.11%.

Currently trading at $1.75, the stock is -17.04% and -25.47% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.59 million and changing 6.71% at the moment leaves the stock -55.76% off its SMA200. NKLA registered -76.06% loss for a year compared to 6-month loss of -67.41%.

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The stock witnessed a -30.28% gain in the last 1 month and extending the period to 3 months gives it a -18.98%, and is -2.78% 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 10.92% over the week and 7.23% over the month.

Nikola Corporation (NKLA) has around 1500 employees, a market worth around $1.05B and $50.80M in sales. Distance from 52-week low is 12.90% and -85.26% from its 52-week high. The company has generated returns on investments over the last 12 months (-85.00%).

Nikola Corporation (NKLA) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Nikola Corporation (NKLA) is a “Hold”. 10 analysts offering their recommendations for the stock have an average rating of 2.50, where 6 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Nikola Corporation is expected to release its quarterly report on 05/04/2023.The EPS is expected to shrink by -2.50% this year

Nikola Corporation (NKLA) Top Institutional Holders

The shares outstanding are 488.05M, and float is at 324.62M with Short Float at 35.29%.

Nikola Corporation (NKLA) Insider Activity

A total of 225 insider transactions have happened at Nikola Corporation (NKLA) in the last six months, with sales accounting for 151 and purchases happening 74 times. The most recent transaction is an insider sale by Lohscheller Michael, the company’s Chief Executive Officer. SEC filings show that Lohscheller Michael sold 27,863 shares of the company’s common stock on Mar 06 at a price of $2.11 per share for a total of $58847.0. Following the sale, the insider now owns 0.85 million shares.

Nikola Corporation disclosed in a document filed with the SEC on Mar 06 that Mendes Carey (President, Energy) sold a total of 1,291 shares of the company’s common stock. The trade occurred on Mar 06 and was made at $2.11 per share for $2727.0. Following the transaction, the insider now directly holds 0.35 million shares of the NKLA stock.

Still, SEC filings show that on Dec 30, RUSSELL MARK A (Director) disposed off 75,000 shares at an average price of $2.21 for $0.17 million. The insider now directly holds 1,959,917 shares of Nikola Corporation (NKLA).

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