The price of Nikola Corporation (NASDAQ:NKLA) shares last traded on Wall Street rose 3.06% to $0.91.
Based on available information, 8 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 $5.00 and a low of $1.00, we find $2.50. Given the previous closing price of $0.88, this indicates a potential upside of 184.09 percent. NKLA stock price is now -50.77% away from the 50-day moving average and -48.04% away from the 200-day moving average. The market capitalization of the company currently stands at $917.93M.
Among analysts, 6 rate the stock a hold while 1 rate it a buy. 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, Pasterick Anastasiya, Chief Financial Officer sold 6,709 shares of the company’s stock on Sep 06. The stock was sold for $7,521 at an average price of $1.12. Upon completion of the transaction, the Chief Financial Officer now directly owns 167,777 shares in the company, valued at $0.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, Chief Legal Officer Worthen Britton M. sold 121,404 shares of the business’s stock. A total of $237,709 was realized by selling the stock at an average price of $1.96. This leaves the insider owning 757,429 shares of the company worth $0.69 million. Insiders disposed of 7,034,133 shares of company stock worth roughly $6.4 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 $6,106,000. INTEROCEAN CAPITAL GROUP, LLC invested $501,000 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 $308,000. XTX TOPCO LTD acquired a new stake in NKLA for approximately $218,000. MILLENNIUM MANAGEMENT LLC purchased a new stake in NKLA valued at around $175,000 in the second quarter. In total, there are 340 active investors with 25.80% ownership of the company’s stock.
A candlestick chart of Nikola Corporation (NASDAQ: NKLA) showed a price of $0.9196 on Monday morning. During the past 12 months, Nikola Corporation has had a low of $0.52 and a high of $5.58. The fifty day moving average price for NKLA is $1.8423 and a two-hundred day moving average price translates $1.7455 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 $23.51M 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.
