Nikola Corp (NKLA) Stock Could Soon Reward Patient Investors

Nikola Corp (NASDAQ: NKLA) is -17.70% lower on its value in year-to-date trading and has touched a low of $0.52 and a high of $3.71 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 $217.46M in the last trading session, with the day’s loss setting it -216.75%.

Currently trading at $0.71, the stock is -116.29% and -107.14% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 97.17 and changing 0.72% at the moment leaves the stock Feb 22 BMO off its SMA200. NKLA registered -71.65% loss for a year compared to 6-month loss of -63.27%. The firm has a 50-day simple moving average (SMA 50) of $24.22 and a 200-day simple moving average (SMA200) of -$0.95.

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The stock witnessed a -7.34% gain in the last 1 month and extending the period to 3 months gives it a -29.41%, and is -1.11% 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 7.13% over the week and 8.76% over the month.

Profit margin for the company is -3304.86%. Distance from 52-week low is 38.20% and -80.59% from its 52-week high. The company has generated returns on investments over the last 12 months (-123.04%).

Nikola Corp quarterly earnings per share for the current quarter are estimated at -$0.13 with sales reaching $12.64M over the same period.The EPS is expected to grow by 22.73% this year, but quarterly earnings will post -24.40% year-over-year. Quarterly sales are estimated to grow 92.60% in year-over-year returns.

Nikola Corp (NKLA) Top Institutional Holders

343 institutions hold shares in Nikola Corp (NKLA), with institutional investors hold 32.95% of the company’s shares. The shares outstanding are 1.16B, and float is at 1.06B with Short Float at 20.55%. Institutions hold 30.15% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 56.71 million shares valued at $40.83 million. The investor’s holdings represent 5.54% of the NKLA Shares outstanding. As of Sep 29, 2023, the second largest holder is Blackrock Inc. with 47.75 million shares valued at $34.38 million to account for 4.66% of the shares outstanding. The other top investors are Norges Bank Investment Management which holds 33.58 million shares representing 3.28% and valued at over $24.18 million, while Geode Capital Management, LLC holds 1.42% of the shares totaling 14.53 million with a market value of $10.46 million.

Nikola Corp (NKLA) Insider Activity

A total of 4 insider transactions have happened at Nikola Corp (NKLA) in the last six months, with sales accounting for 1 and purchases happening 3 times. The most recent transaction is an insider sale by Pasterick Anastasiya ,the company’sChief Financial Officer. SEC filings show that Pasterick Anastasiya sold 6,709 shares of the company’s common stock on Sep 06 at a price of $1.12 per share for a total of $7521.0. Following the sale, the insider now owns 0.17 million shares.

Nikola Corp disclosed in a document filed with the SEC on Aug 10 that Worthen Britton M. (Chief Legal Officer) sold a total of 121,404 shares of the company’s common stock. The trade occurred on Aug 10 and was made at $1.96 per share for $0.24 million. Following the transaction, the insider now directly holds 0.76 million shares of the NKLA stock.

Still, SEC filings show that on Aug 10, Pike Joseph R. (Chief Human Resources Officer) disposed off 80,937 shares at an average price of $1.96 for $0.16 million. The insider now directly holds 504,952 shares of Nikola Corp (NKLA).