The price of Nikola Corp (NASDAQ:NKLA) shares last traded on Wall Street rose 11.60% to $1.39.
Based on available information, 8 analysts follow Nikola Corp (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 $1.25, this indicates a potential upside of 100.0 percent. NKLA stock price is now -22.15% away from the 50-day moving average and -17.02% away from the 200-day moving average. The market capitalization of the company currently stands at $1.19B.
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 Corp (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 $0.23 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 $1.05 million. Insiders disposed of 6,633,788 shares of company stock worth roughly $9.22 million over the past 1 year. A total of 16.31% 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 Corp shares was purchased by GMT CAPITAL CORP during the first quarter worth $9,391,000. INTEROCEAN CAPITAL GROUP, LLC invested $771,000 in shares of NKLA during the first quarter. In the first quarter, QUADRATURE CAPITAL LTD acquired a new stake in Nikola Corp valued at approximately $474,000. XTX TOPCO LTD acquired a new stake in NKLA for approximately $336,000. MILLENNIUM MANAGEMENT LLC purchased a new stake in NKLA valued at around $269,000 in the second quarter. In total, there are 340 active investors with 25.60% ownership of the company’s stock.
A candlestick chart of Nikola Corp (NASDAQ: NKLA) showed a price of $1.2000 on Monday morning. During the past 12 months, Nikola Corp has had a low of $0.52 and a high of $4.10. As of last week, the company has a debt-to-equity ratio of 0.71, a current ratio of 1.74, and a quick ratio of 1.37. The fifty day moving average price for NKLA is $1.7748 and a two-hundred day moving average price translates $1.6758 for the stock.
The latest earnings results from Nikola Corp (NASDAQ: NKLA) was released for Jun, 2023. The net profit margin was -1475.52% and return on equity was -136.80% for NKLA. 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.
