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After A -59.10% Fall This Year Is Nikola Corporation (NASDAQ:NKLA) A Better Buy Than Others?

In last trading session, Nikola Corporation (NASDAQ:NKLA) saw 19.86 million shares changing hands with its beta currently measuring 1.38. Company’s recent per share price level of $4.38 trading at -$0.18 or -3.95% at ring of the bell on the day assigns it a market valuation of $1.94B. That closing price of NKLA’s stock is at a discount of -255.25% from its 52-week high price of $15.56 and is indicating a discount of -0.68% from its 52-week low price of $4.41. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 16.68 million shares which gives us an average trading volume of 11.29 million if we extend that period to 3-months.

For Nikola Corporation (NKLA), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.80. Splitting up the data highlights that, out of 10 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 7 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.28 in the current quarter.

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Nikola Corporation (NASDAQ:NKLA) trade information

Upright in the red during last session for losing -3.95%, in the last five days NKLA remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $4.38 price level, adding 19.63% to its value on the day. Nikola Corporation’s shares saw a change of -55.62% in year-to-date performance and have moved -18.44% in past 5-day. Nikola Corporation (NASDAQ:NKLA) showed a performance of -20.22% in past 30-days. Number of shares sold short was 87.16 million shares which calculate 9.33 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $10.61 to the stock, which implies a rise of 58.72% to its current value. Analysts have been projecting $6.00 as a low price target for the stock while placing it at a high target of $20.00. It follows that stock’s current price would drop -356.62% in reaching the projected high whereas dropping to the targeted low would mean a loss of -36.99% for stock’s current value.

Nikola Corporation (NKLA) estimates and forecasts

Statistics highlight that Nikola Corporation is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -52.39% of value to its shares in past 6 months, showing an annual growth rate of -63.29% while that of industry is 12.70. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -40.00% in the current quarter and calculating -45.50% decrease in the next quarter.

9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $16.46 million for the same. And 9 analysts are in estimates of company making revenue of $38.65 million in the next quarter that will end on Sep 2022.

In 2022, company’s earnings growth rate is likely to be around -51.10% while estimates for its earnings growth in next 5 years are of 20.59%.

NKLA Dividends

Nikola Corporation is more likely to be releasing its next quarterly report between February 23 and February 28 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Nikola Corporation (NASDAQ:NKLA)’s Major holders

Insiders are in possession of 41.18% of company’s total shares while institution are holding 26.83 percent of that, with stock having share float percentage of 45.62%. Investors also watch the number of corporate investors in a company very closely, which is 26.83% institutions for Nikola Corporation that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at NKLA for having 19.1 million shares of worth $204.6 million. And as of Mar 30, 2022, it was holding 4.54% of the company’s outstanding shares.

The second largest institutional holder is Norges Bank Investment Management, which was holding about 17.04 million shares on Dec 30, 2021. The number of shares represents firm’s hold over 4.05% of outstanding shares, having a total worth of $168.17 million.

On the other hand, iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 6.54 million shares of worth $31.14 million or 1.55% of the total outstanding shares. The later fund manager was in possession of 6.12 million shares on Mar 30, 2022, making its stake of worth around $65.5 million in the company or a holder of 1.45% of company’s stock.

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