Nikola Corporation (NASDAQ:NKLA) has a beta value of 1.44 and has seen 15.48 million shares traded in the last trading session. The company, currently valued at $1.34B, closed the last trade at $2.76 per share which meant it gained $0.24 on the day or 9.52% during that session. The NKLA stock price is -330.07% off its 52-week high price of $11.87 and 27.17% above the 52-week low of $2.01. If we look at the company’s 10-day average daily trading volume, we find that it stood at 8.8 million shares traded. The 3-month trading volume is 11.35 million shares.
The consensus among analysts is that Nikola Corporation (NKLA) is a Hold stock at the moment, with a recommendation rating of 2.60. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 6 out of 10 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.39.
Nikola Corporation (NASDAQ:NKLA) trade information
Sporting 9.52% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the NKLA stock price touched $2.76 or saw a rise of 1.08%. Year-to-date, Nikola Corporation shares have moved 27.78%, while the 5-day performance has seen it change 8.24%. Over the past 30 days, the shares of Nikola Corporation (NASDAQ:NKLA) have changed 22.12%. Short interest in the company has seen 97.44 million shares shorted with days to cover at 7.
Wall Street analysts have a consensus price target for the stock at $6.19, which means that the shares’ value could jump 55.41% from current levels. The projected low price target is $2.50 while the price target rests at a high of $15.00. In that case, then, we find that the current price level is -443.48% off the targeted high while a plunge would see the stock lose 9.42% from current levels.
Nikola Corporation (NKLA) estimates and forecasts
Figures show that Nikola Corporation shares have underperformed across the wider relevant industry. The company’s shares have lost -53.14% over the past 6 months, with this year growth rate of -51.90%, compared to 11.30% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -77.30% and -87.00% for the next quarter.
8 analysts offering their estimates for the company have set an average revenue estimate of $22.14 million for the current quarter. 9 have an estimated revenue figure of $67.6 million for the next quarter concluding in Dec 2022.
Earnings growth for 2023 is a modest -51.10% while over the next 5 years, the company’s earnings are expected to increase by 20.59%.
Nikola Corporation is expected to release its next earnings report between February 22 and February 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Nikola Corporation (NASDAQ:NKLA)’s Major holders
Insiders own 33.85% of the company shares, while shares held by institutions stand at 28.03% with a share float percentage of 42.37%. Investors are also buoyed by the number of investors in a company, with Nikola Corporation having a total of 349 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 23.06 million shares worth more than $109.78 million. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 5.32% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 17.7 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $84.23 million and represent 4.08% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of Jun 29, 2022, the former fund manager holds about 1.71% shares in the company for having 7.43 million shares of worth $35.38 million while later fund manager owns 6.57 million shares of worth $23.13 million as of Sep 29, 2022, which makes it owner of about 1.52% of company’s outstanding stock.