In today’s recent session, 4,103,661 shares of the Nikola Corporation(NASDAQ:NKLA) have been traded, and its beta is 0. Most recently the company’s share price was $21.39, and it changed around $0.03 or 0% from the last close, which brings the market valuation of the company to $8.23 Billion. NKLA at last check was trading at a discount to its 52-week high of $93.99, offering almost -339.41% off that amount. The share price’s 52-week low was $10.34, which indicates that the recent value has risen by an impressive 51.66% since then. We note from Nikola Corporation’s average daily trading volume that its 10-day average is 7.46 Million shares, with the 3-month average coming to 20.18 Million.
Nikola Corporation stock received a consensus recommendation rating of Overweight, based on a mean score of 2.7. If we narrow it down even further, the data shows that none out of 7 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 5 recommended NKLA as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Nikola Corporation is expected to report earnings per share of -$0.23 for the current quarter.
Nikola Corporation (NASDAQ:NKLA): Trading Information Today
Instantly NKLA has been showing a green trend so far today with a performance of 0.14% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $23.08 on Tuesday, Feb 16 increased the stock’s daily price by 6.98%. The company’s shares are currently up 0.41% year-to-date, but still down -0.0166 over the last five days. On the other hand, Nikola Corporation (NASDAQ:NKLA) is 0.07% up in the 30-day period. We can see from the shorts that 38.49 Million shares have been sold at a short interest cover period of 1.91 day(s).
The consensus price target as assigned by Wall Street analysts is $28.33, which translates to bears needing to increase their stock price by 32.45% from its current value. Analyst projections state that NKLA is forecast to be at a low of $17 and a high of $47. In order for the stock price to hit the forecast high, the stock would need to surge +119.73% from its current level, while the stock would need to crash -20.52% from its current level to reach the projected low.
Nikola Corporation (NKLA) projections and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Nikola Corporation earnings are expected to increase by 9% in 2021, but the outlook is positive 20.59% per year for the next five years.
Nikola Corporation (NASDAQ:NKLA)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 62.39% of Nikola Corporation shares, and 13.73% of them are in the hands of institutional investors. The stock currently has a share float of 36.52%. Nikola Corporation stock is held by 257 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Sep 29, 2020, it held 3.22% of the shares, which is about 12.38 Million shares worth $253.62 Million.
Coatue Management, LLC, with 0.96% or 3.7 Million shares worth $75.72 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.
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