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Nikola Corp (NKLA) Stock Could Soon Reward Patient Investors

Nikola Corp (NASDAQ: NKLA) is 17.74% higher 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 continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NKLA stock was last observed hovering at around $1.04 in the last trading session, with the day’s loss setting it -0.01%.

Currently trading at $1.03, the stock is 46.71% and 45.25% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 123.99 million and changing -0.96% at the moment leaves the stock -12.03% off its SMA200. NKLA registered -31.33% loss for a year compared to 6-month loss of -37.58%. The firm has a 50-day simple moving average (SMA 50) of $33.74 and a 200-day simple moving average (SMA200) of -$1.64.

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The stock witnessed a 38.40% gain in the last 1 month and extending the period to 3 months gives it a 16.12%, and is 55.52% up 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 18.79% over the week and 9.59% over the month.

Nikola Corp (NKLA) has around 870 employees, a market worth around $1.38B and $36.28M in sales. Profit margin for the company is -2663.47%. Distance from 52-week low is 97.70% and -72.24% from its 52-week high. The company has generated returns on investments over the last 12 months (-97.29%).

Nikola Corp quarterly earnings per share for the current quarter are estimated at -$0.09 with sales reaching $13.35M over the same period.The EPS is expected to grow by 49.01% this year, but quarterly earnings will post 373.60% year-over-year. Quarterly sales are estimated to grow 20.10% in year-over-year returns.

Nikola Corp (NKLA) Top Institutional Holders

340 institutions hold shares in Nikola Corp (NKLA), with institutional investors hold 36.25% of the company’s shares. The shares outstanding are 1.33B, and float is at 1.22B with Short Float at 20.70%. Institutions hold 33.55% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 44.62 million shares valued at $61.58 million. The investor’s holdings represent 5.72% of the NKLA Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 43.28 million shares valued at $59.72 million to account for 5.55% of the shares outstanding. The other top investors are Norges Bank Investment Management which holds 33.58 million shares representing 4.31% and valued at over $72.54 million, while State Street Corporation holds 1.77% of the shares totaling 13.82 million with a market value of $19.07 million.

Nikola Corp (NKLA) Insider Activity

The most recent transaction is an insider sale by Worthen Britton M.,the company’sChief Legal Officer. SEC filings show that Worthen Britton M. sold 109,980 shares of the company’s common stock on Mar 05 ’24 at a price of $0.68 per share for a total of $74852.0. Following the sale, the insider now owns 0.65 million shares.

Nikola Corp disclosed in a document filed with the SEC on Mar 05 ’24 that Pike Joseph R. (Chief Human Resources Officer) sold a total of 75,162 shares of the company’s common stock. The trade occurred on Mar 05 ’24 and was made at $0.68 per share for $51155.0. Following the transaction, the insider now directly holds 0.43 million shares of the NKLA stock.

Still, SEC filings show that on Mar 05 ’24, Chan Mary S (Chief Operating Officer) disposed off 24,627 shares at an average price of $0.68 for $16761.0. The insider now directly holds 546,230 shares of Nikola Corp (NKLA).

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