Stocks of Nikola Corp (NASDAQ:NKLA) traded higher last session on Wall Street, down -5.08% to $0.99.
According to the data, Nikola Corp (NASDAQ:NKLA) has 7 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $4.00 and a low of $1.00, we find $2.00. Given the previous closing price of $1.04, this indicates a potential upside of 92.31 percent. NKLA stock price is now -17.62% away from the 50-day moving average and -31.23% away from the 200-day moving average. The market capitalization of the company currently stands at $972.59M.
A total of 6 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $2.20 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 $0.17 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 $0.75 million. Insiders disposed of 3,640,497 shares of company stock worth roughly $3.6 million over the past 1 year. A total of 11.62% of the company’s stock is owned by insiders.
Monday’s opening bell rang with an opening price of $1.0100 for Nikola Corp (NASDAQ: NKLA). During the past 12 months, Nikola Corp has had a low of $0.52 and a high of $3.71. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 1.60, and a quick ratio of 1.41. The fifty day moving average price for NKLA is $1.1984 and a two-hundred day moving average price translates $1.4356 for the stock.
The latest earnings results from Nikola Corp (NASDAQ: NKLA) was released for Sep, 2023. The net profit margin was -3304.86% and return on equity was -163.92% for NKLA. The company reported revenue of -$1.73 million for the quarter, compared to $24.24 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -107.14 percent. For the current quarter, analysts expect NKLA to generate $14.49M in revenue.
Nikola Corp(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.