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Nikola Corporation (NASDAQ: NKLA) Is Decrease -25.00%, So Here’s What We Can Expect On The Upswing

During the last session, Nikola Corporation (NASDAQ:NKLA)’s traded shares were 21.17 million, with the beta value of the company hitting 1.35. At the end of the trading day, the stock’s price was $7.95, reflecting an intraday gain of 6.28% or $0.47. The 52-week high for the NKLA share is $15.56, that puts it down -95.72 from that peak though still a striking 44.53% gain since the share price plummeted to a 52-week low of $4.41. The company’s market capitalization is $3.19B, and the average intraday trading volume over the past 10 days was 9.07 million shares, and the average trade volume was 11.44 million shares over the past three months.

Nikola Corporation (NKLA) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. NKLA has a Sell rating from 0 analyst(s) out of 10 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.28.

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Nikola Corporation (NASDAQ:NKLA) trade information

Nikola Corporation (NKLA) registered a 6.28% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.28% in intraday trading to $7.95 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 24.61%, and it has moved by 53.47% in 30 days. Based on these gigs, the overall price performance for the year is -25.00%. The short interest in Nikola Corporation (NASDAQ:NKLA) is 87.16 million shares and it means that shorts have 9.33 day(s) to cover.

The consensus price target of analysts on Wall Street is $10.69, which implies an increase of 25.63% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $20.00 respectively. As a result, NKLA is trading at a discount of -151.57% off the target high and 11.95% off the low.

Nikola Corporation (NKLA) estimates and forecasts

Statistics show that Nikola Corporation has underperformed its competitors in share price, compared to the industry in which it operates. Nikola Corporation (NKLA) shares have gone up 1.02% during the last six months, with a year-to-date growth rate less than the industry average at -36.71% against 12.30. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -40.00% this quarter and then drop -45.50% in the quarter after that.

Revenue for the current quarter is expected to be $16.46 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $38.65 million by the end of Sep 2022.

While earnings are projected to return -51.10% in 2022, the next five years will return 20.59% per annum.

NKLA Dividends

Nikola Corporation is due to release its next quarterly earnings between February 23 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Nikola Corporation (NASDAQ:NKLA)’s Major holders

Nikola Corporation insiders own 41.18% of total outstanding shares while institutional holders control 26.83%, with the float percentage being 45.62%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 354 institutions own stock in it. As of Mar 30, 2022, the company held over 19.1 million shares (or 4.54% of all shares), a total value of $204.6 million in shares.

The next largest institutional holding, with 17.04 million shares, is of Norges Bank Investment Management’s that is approximately 4.05% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $168.17 million.

Also, the Mutual Funds coming in first place with the largest holdings of Nikola Corporation (NKLA) shares are iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2022 indicates that iShares Russell 2000 ETF owns about 6.54 million shares. This amounts to just over 1.55 percent of the company’s overall shares, with a $31.14 million market value. The same data shows that the other fund manager holds slightly less at 6.12 million, or about 1.45% of the stock, which is worth about $65.5 million.

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