During the last session, Nikola Corporation (NASDAQ:NKLA)’s traded shares were 27.59 million, with the beta value of the company hitting 1.44. At the end of the trading day, the stock’s price was $0.77, reflecting an intraday loss of -1.14% or -$0.01. The 52-week high for the NKLA share is $8.97, that puts it down -1064.94 from that peak though still a striking 9.09% gain since the share price plummeted to a 52-week low of $0.70. The company’s market capitalization is $521.97M, and the average intraday trading volume over the past 10 days was 35.08 million shares, and the average trade volume was 23.66 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 2.90. NKLA has a Sell rating from 1 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 1 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 -$0.22.
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Nikola Corporation (NASDAQ:NKLA) trade information
Nikola Corporation (NKLA) registered a -1.14% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -1.14% in intraday trading to $0.77 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 4.50%, and it has moved by -5.38% in 30 days. Based on these gigs, the overall price performance for the year is -87.65%. The short interest in Nikola Corporation (NASDAQ:NKLA) is 106.74 million shares and it means that shorts have 4.01 day(s) to cover.
The consensus price target of analysts on Wall Street is $2.71, which implies an increase of 71.59% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $8.00 respectively. As a result, NKLA is trading at a discount of -938.96% off the target high and -29.87% off the low.
Nikola Corporation (NKLA) estimates and forecasts
Statistics show that Nikola Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Nikola Corporation (NKLA) shares have gone down -69.50% during the last six months, with a year-to-date growth rate more than the industry average at 23.42% against 11.50. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 12.00% this quarter and then jump 35.70% in the quarter after that. In the rating firms’ projections, revenue will increase 188.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $15.09 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $30.53 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $18.13 million and $22.14 million respectively. In this case, analysts expect current quarter sales to shrink by -16.80% and then jump by 37.90% in the coming quarter.
While earnings are projected to return -2.50% in 2023, the next five years will return 20.59% per annum.
Nikola Corporation is due to release its next quarterly earnings on May 09. 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 15.60% of total outstanding shares while institutional holders control 24.13%, with the float percentage being 28.58%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 339 institutions own stock in it. As of Mar 30, 2023, the company held over 39.97 million shares (or 5.76% of all shares), a total value of $48.37 million in shares.
The next largest institutional holding, with 36.81 million shares, is of Antara Capital Lp’s that is approximately 5.30% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $44.54 million.
Also, the Mutual Funds coming in first place with the largest holdings of Nikola Corporation (NKLA) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 10.51 million shares. This amounts to just over 1.67 percent of the company’s overall shares, with a $22.71 million market value. The same data shows that the other fund manager holds slightly less at 8.64 million, or about 1.37% of the stock, which is worth about $18.66 million.