The stock price of Nikola Corp (NASDAQ: NKLA) has plunged by -2.44 when compared to previous closing price of 0.66, but the company has seen a -8.05% decline in its stock price over the last five trading sessions. The Motley Fool reported 2024-04-21 that Nikola has struggled to meet its own production goals. The EV manufacturer expects its growth to accelerate significantly this year.
Is It Worth Investing in Nikola Corp (NASDAQ: NKLA) Right Now?
NKLA has 36-month beta value of 2.09. Analysts have mixed views on the stock, 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 currently, short sellers hold a 19.36% ratio of that float. The average trading volume of NKLA on April 22, 2024 was 96.36M shares.
NKLA’s Market Performance
NKLA’s stock has seen a -8.05% decrease for the week, with a 2.27% rise in the past month and a -1.26% fall in the past quarter. The volatility ratio for the week is 8.68%, and the volatility levels for the past 30 days are at 12.48% for Nikola Corp The simple moving average for the last 20 days is -22.94% for NKLA stock, with a simple moving average of -43.69% for the last 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 -14.22% 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 -82.64% of loss for the given period.
Volatility was left at 12.48%, however, over the last 30 days, the volatility rate increased by 8.68%, as shares sank -0.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.14% lower at present.
During the last 5 trading sessions, NKLA fell by -8.05%, which changed the moving average for the period of 200-days by -54.97% in comparison to the 20-day moving average, which settled at $0.8353. In addition, Nikola Corp saw -26.39% 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 18.71. 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 put it simply, Nikola Corp (NKLA) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating 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.
