The stock of Nikola Corporation (NASDAQ:NKLA) last traded at $2.33, up 3.56% from the previous session.
Data from the available sources indicates that Nikola Corporation (NASDAQ:NKLA) is covered by 8 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $5.00 and a low of $1.00, we find $2.00. Given the previous closing price of $2.25, this indicates a potential downside of -11.11 percent. NKLA stock price is now 129.58% away from the 50-day moving average and 17.30% away from the 200-day moving average. The market capitalization of the company currently stands at $1.65B.
In total, 6 analysts have assigned it a hold rating, and 1 have given it a buy rating. Brokers who have rated the stock have averaged $2.40 as their price target over the next twelve months.
With the price target reduced from $5 to $1, TD Cowen Downgraded its rating from Outperform to Market Perform for Nikola Corporation (NASDAQ: NKLA).
In other news, RUSSELL MARK A, Director sold 252,260 shares of the company’s stock on May 12. The stock was sold for $196,886 at an average price of $0.78. Upon completion of the transaction, the Director now directly owns 1,632,657 shares in the company, valued at $3.8 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 11, Director RUSSELL MARK A sold 75,000 shares of the business’s stock. A total of $59,505 was realized by selling the stock at an average price of $0.79. This leaves the insider owning 1,884,917 shares of the company worth $4.39 million. Insiders disposed of 7,062,226 shares of company stock worth roughly $16.45 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 ANTARA CAPITAL LP during the first quarter worth $85,764,000. ALYESKA INVESTMENT GROUP, L.P. invested $4,735,000 in shares of NKLA during the first quarter. In the first quarter, COATUE MANAGEMENT LLC acquired a new stake in Nikola Corporation valued at approximately $3,535,000. SEVEN GRAND MANAGERS, LLC acquired a new stake in NKLA for approximately $1,165,000. BAADER BANK AKTIENGESELLSCHAFT purchased a new stake in NKLA valued at around $914,000 in the second quarter. In total, there are 339 active investors with 25.80% ownership of the company’s stock.
With an opening price of $2.1800 on Monday morning, Nikola Corporation (NASDAQ: NKLA) set off the trading day. During the past 12 months, Nikola Corporation has had a low of $0.52 and a high of $8.97. The fifty day moving average price for NKLA is $1.0431 and a two-hundred day moving average price translates $1.9785 for the stock.
The latest earnings results from Nikola Corporation (NASDAQ: NKLA) was released for Mar, 2023. According to the Farm & Heavy Construction Machinery Company, earnings per share came in at -$0.26, inline with analysts’ expectations of -$0.26. This compares to -$0.37 EPS in the same period last year. The company reported revenue of $11.12 million for the quarter, compared to $1.89 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 489.14 percent. For the current quarter, analysts expect NKLA to generate $15.43M in revenue.
Nikola Corporation(NKLA) Company Profile
Nikola Corporation operates as a technology innovator and integrator that develops energy and transportation solutions. It operates through two business units, Truck and Energy. The Truck business unit develops and commercializes battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) 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 founded in 2015 and is headquartered in Phoenix, Arizona.
