Nikola Corporation (NKLA) and the Battle of Fundamentals vs. Technicals

Nikola Corporation (NASDAQ:NKLA) went down by -8.27% from its latest closing price compared to the recent 1-year high of $93.99. The company’s stock price has collected -34.41% of loss in the last five trading sessions. Press Release reported 23 hours ago that SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Nikola Corporation and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

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Is It Worth Investing in Nikola Corporation (NASDAQ :NKLA) Right Now?

Nikola Corporation (NASDAQ:NKLA) scored a price-to-earnings ratio above its average ratio, recording 39.21 x from its present earnings ratio. Opinions of the stock are interesting as 2 analysts out of 5 who provided ratings for Nikola Corporation declared the stock was a “buy,” while 0 rated the stock as “overweight,” 3 rated it as “hold,” and 0 as “sell.”

The average price from analysts is $53.60, which is $22.92 above the current price. NKLA currently public float of 115.69M and currently shorts hold a 8.24% ratio of that float. Today, the average trading volume of NKLA was 24.18M shares.

NKLA’s Market Performance

NKLA stocks went down by -34.41% for the week, with a monthly drop of -28.57% and a quarterly performance of -47.83%, while its annual performance rate touched 224.09%. The volatility ratio for the week stands at 16.50% while the volatility levels for the past 30 days are set at 10.99% for Nikola Corporation. The simple moving average for the period of the last 20 days is -17.55% for NKLA stocks with a simple moving average of 28.69% for the last 200 days.

Analysts’ Opinion of NKLA

Many brokerage firms have already submitted their reports for NKLA stocks, with Wedbush repeating the rating for NKLA by listing it as a “Neutral.” The predicted price for NKLA in the upcoming period, according to Wedbush is $45 based on the research report published on August 26th of the current year 2020.

Deutsche Bank, on the other hand, stated in their research note that they expect to see NKLA reach a price target of $54. The rating they have provided for NKLA stocks is “Hold” according to the report published on July 16th, 2020.

JP Morgan gave a rating of “ Overweight” to NKLA, setting the target price at $45 in the report published on July 8th of the current year.

NKLA Trading at -20.02% from the 50-Day Moving Average

After a stumble in the market that brought NKLA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -65.07% of loss for the given period.

Volatility was left at 10.99%, however, over the last 30 days, the volatility rate increased by 16.50%, as shares sank -24.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -32.89% lower at present.

During the last 5 trading sessions, NKLA fell by -34.41%, which changed the moving average for the period of 200-days by +219.98% in comparison to the 20-day moving average, which settled at $39.28. In addition, Nikola Corporation saw 218.12% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at NKLA starting from Milton Trevor R., who bought 41,400 shares at the price of $30.91 back on Sep 14. After this action, Milton Trevor R. now owns 91,644,134 shares of Nikola Corporation, valued at $1,279,699 using the latest closing price.

UBBEN JEFFREY W, the Director of Nikola Corporation, sold 1,400,000 shares at $42.69 during a trade that took place back on Aug 11, which means that UBBEN JEFFREY W is holding 10,275,437 shares at $59,766,000 based on the most recent closing price.

Stock Fundamentals for NKLA

Equity return is now at value -34.00, with -32.40 for asset returns.

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