Nikola Corporation (NASDAQ:NKLA) shares traded -6.67% lower at $1.82 on Wall Street last session.
In accordance with the data, 8 analysts cover 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 $5.00 and a low of $1.00, we find $2.50. Given the previous closing price of $1.95, this indicates a potential upside of 28.21 percent. NKLA stock price is now 8.64% away from the 50-day moving average and -4.23% away from the 200-day moving average. The market capitalization of the company currently stands at $1.43B.
It has been rated a hold by 6 analysts and a buy by 1. Brokers who have rated the stock have averaged $2.70 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, Worthen Britton M., Chief Legal Officer sold 121,404 shares of the company’s stock on Aug 10. The stock was sold for $237,709 at an average price of $1.96. Upon completion of the transaction, the Chief Legal Officer now directly owns 757,429 shares in the company, valued at $1.38 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, Chief Human Resources Officer Pike Joseph R. sold 80,937 shares of the business’s stock. A total of $158,475 was realized by selling the stock at an average price of $1.96. This leaves the insider owning 504,952 shares of the company worth $0.92 million. Insiders disposed of 7,055,226 shares of company stock worth roughly $12.84 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 GMT CAPITAL CORP during the first quarter worth $12,252,000. INTEROCEAN CAPITAL GROUP, LLC invested $1,006,000 in shares of NKLA during the first quarter. In the first quarter, QUADRATURE CAPITAL LTD acquired a new stake in Nikola Corporation valued at approximately $618,000. XTX TOPCO LTD acquired a new stake in NKLA for approximately $438,000. MILLENNIUM MANAGEMENT LLC purchased a new stake in NKLA valued at around $351,000 in the second quarter. In total, there are 340 active investors with 25.80% ownership of the company’s stock.
Nikola Corporation (NASDAQ: NKLA) opened at $1.6000 on Monday. During the past 12 months, Nikola Corporation has had a low of $0.52 and a high of $7.28. The fifty day moving average price for NKLA is $1.7002 and a two-hundred day moving average price translates $1.8939 for the stock.
The latest earnings results from Nikola Corporation (NASDAQ: NKLA) was released for Jun, 2023. The company reported revenue of $15.36 million for the quarter, compared to $18.13 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -15.29 percent. For the current quarter, analysts expect NKLA to generate $23.48M 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.
