The price of Nikola Corporation (NASDAQ:NKLA) shares last traded on Wall Street fell -9.09% to $2.30.
Based on available information, 10 analysts follow Nikola Corporation (NASDAQ:NKLA). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $2.50, we find $5.50. Given the previous closing price of $2.53, this indicates a potential upside of 117.39 percent. NKLA stock price is now -33.14% away from the 50-day moving average and -61.97% away from the 200-day moving average. The market capitalization of the company currently stands at $1.15B.
Among analysts, 6 rate the stock a hold while 3 rate it a buy. Brokers who have rated the stock have averaged $6.44 as their price target over the next twelve months.
With the price target maintained at $12, BTIG Research recently Upgraded its rating from Neutral to Buy for Nikola Corporation (NASDAQ: NKLA). On February 25, 2022, RBC Capital Mkts reiterated its ‘Sector Perform’ rating on the stock by increasing its target price from $11 to quote $8, while ‘JP Morgan’ rates the stock as ‘Neutral’.
In other news, RUSSELL MARK A, Director sold 75,000 shares of the company’s stock on Nov 21. The stock was sold for $192,524 at an average price of $2.57. Upon completion of the transaction, the Director now directly owns 2,812,346 shares in the company, valued at $6.47 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 18, Director RUSSELL MARK A sold 75,000 shares of the business’s stock. A total of $208,130 was realized by selling the stock at an average price of $2.78. This leaves the insider owning 2,812,346 shares of the company worth $6.47 million. Insiders disposed of 10,737,139 shares of company stock worth roughly $24.7 million over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NKLA stock. A new stake in Nikola Corporation shares was purchased by ALPS ADVISORS INC during the first quarter worth $3,953,000. DISCOVERY CAPITAL MANAGEMENT, LLC / CT invested $949,000 in shares of NKLA during the first quarter. In the first quarter, AMUNDI acquired a new stake in Nikola Corporation valued at approximately $888,000. GARDNER LEWIS ASSET MANAGEMENT L P acquired a new stake in NKLA for approximately $807,000. WALLEYE CAPITAL LLC purchased a new stake in NKLA valued at around $521,000 in the second quarter. In total, there are 349 active investors with 25.90% ownership of the company’s stock.
A candlestick chart of Nikola Corporation (NASDAQ: NKLA) showed a price of $2.5400 on Tuesday morning. During the past 12 months, Nikola Corporation has had a low of $2.50 and a high of $12.14. The fifty day moving average price for NKLA is $3.4402 and a two-hundred day moving average price translates $6.0481 for the stock.
The latest earnings results from Nikola Corporation (NASDAQ: NKLA) was released for Jun, 2022. According to the Farm & Heavy Construction Machinery Company, earnings per share came in at -$0.25, beating analysts’ expectations of -$0.28 by 0.03. This compares to -$0.67 EPS in the same period last year. For the current quarter, analysts expect NKLA to generate $22.14M in revenue.
Nikola Corporation(NKLA) Company Profile
Nikola Corporation operates as a technology innovator and integrator that works to develop energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery hydrogen-electric and battery-electric semi-trucks to the trucking sector. The Energy business unit develops and constructs a network of hydrogen fueling stations; and offers BEV charging solutions for its FCEV and BEV customers, as well as other third-party customers. The company also assembles, integrates, and commissions its vehicles in collaboration with its business partners and suppliers. Nikola Corporation is headquartered in Phoenix, Arizona.