The stock has a 36-month beta value of 2.04. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for NKLA is 1.23B, and at present, short sellers hold a 19.36% of that float. On April 15, 2024, the average trading volume of NKLA was 97.12M shares.
NKLA) stock’s latest price update
Nikola Corp (NASDAQ: NKLA)’s stock price has plunge by -2.33relation to previous closing price of 0.72. Nevertheless, the company has seen a -31.34% plunge in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-11 that Nikola (NASDAQ: NKLA ) stock is plunging lower by more than 10% after the company filed a proxy statement to document the proposals at its upcoming annual meeting of stockholders. These proposals include a reverse stock split in a range between 1-for-10 and 1-for-30 and reducing authorized common stock to 1 billion from 1.6 billion.
NKLA’s Market Performance
Nikola Corp (NKLA) has seen a -31.34% fall in stock performance for the week, with a 9.71% gain in the past month and a -4.81% plunge in the past quarter. The volatility ratio for the week is 12.83%, and the volatility levels for the past 30 days are at 12.19% for NKLA. The simple moving average for the past 20 days is -15.04% for NKLA’s stock, with a -39.53% simple moving average for the past 200 days.
Analysts’ Opinion of NKLA
Robert W. Baird, on the other hand, stated in their research note that they expect to see NKLA reach a price target of $2. The rating they have provided for NKLA stocks is “Outperform” according to the report published on January 24th, 2024.
TD Cowen gave a rating of “Market Perform” to NKLA, setting the target price at $1 in the report published on May 10th of the previous year.
NKLA Trading at -7.40% 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 -81.12% of loss for the given period.
Volatility was left at 12.19%, however, over the last 30 days, the volatility rate increased by 12.83%, as shares surge +16.72% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.29% lower at present.
During the last 5 trading sessions, NKLA fell by -31.34%, which changed the moving average for the period of 200-days by -36.34% in comparison to the 20-day moving average, which settled at $0.8293. In addition, Nikola Corp saw -19.95% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NKLA starting from Worthen Britton M., who sale 109,980 shares at the price of $0.68 back on Mar 05 ’24. After this action, Worthen Britton M. now owns 647,449 shares of Nikola Corp, valued at $74,852 using the latest closing price.
Pike Joseph R., the Chief Human Resources Officer of Nikola Corp, sale 75,162 shares at $0.68 during a trade that took place back on Mar 05 ’24, which means that Pike Joseph R. is holding 429,790 shares at $51,155 based on the most recent closing price.
Stock Fundamentals for NKLA
Current profitability levels for the company are sitting at:
- -18.52 for the present operating margin
- -6.38 for the gross margin
The net margin for Nikola Corp stands at -26.63. The total capital return value is set at -0.64. Equity return is now at value -142.65, with -69.13 for asset returns.
Based on Nikola Corp (NKLA), the company’s capital structure generated 0.26 points at debt to capital in total, while cash flow to debt ratio is standing at -1.96. The debt to equity ratio resting at 0.35. The interest coverage ratio of the stock is 22.93.
Currently, EBITDA for the company is -606.6 million with net debt to EBITDA at 0.27. When we switch over and look at the enterprise to sales, we see a ratio of 20.79. The receivables turnover for the company is 1.33for trailing twelve months and the total asset turnover is 0.03. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.20.
Conclusion
To sum up, Nikola Corp (NKLA) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
