In the last trading session, 20.67 million Nikola Corp (NASDAQ:NKLA) shares changed hands as the company’s beta touched 1.90. With the company’s per share price at $1.04 changed hands at $0.02 or 1.96% during last session, the market valuation stood at $1.02B. NKLA’s last price was a discount, traded about -256.73% off its 52-week high of $3.71. The share price had its 52-week low at $0.52, which suggests the last value was 50.0% up since then. When we look at Nikola Corp’s average trading volume, we note the 10-day average is 41.4 million shares, with the 3-month average coming to 65.97 million.
Analysts gave the Nikola Corp (NKLA) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.71. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended NKLA as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Nikola Corp’s EPS for the current quarter is expected to be -$0.12.
Nikola Corp (NASDAQ:NKLA) trade information
Instantly NKLA was in green as seen at the end of in last trading. With action 7.69%, the performance over the past five days has been green. The jump to weekly highs of 1.1600 on Friday, 11/17/23 added 1.96% to the stock’s daily price. The company’s shares are showing year-to-date downside of -51.85%, with the 5-day performance at 7.69% in the green. However, in the 30-day time frame, Nikola Corp (NASDAQ:NKLA) is -1.89% down. Looking at the short shares, we see there were 181.4 million shares sold at short interest cover period of 4.35 days.
The consensus price target for the stock as assigned by Wall Street analysts is $2.20, meaning bulls need an upside of 52.73% from its current market value. According to analyst projections, NKLA’s forecast low is $1.00 with $4.00 as the target high. To hit the forecast high, the stock’s price needs a -284.62% plunge from its current level, while the stock would need to tank 3.85% for it to hit the projected low.
Nikola Corp (NKLA) estimates and forecasts
Data shows that the Nikola Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 37.15% over the past 6 months, a 29.73% in annual growth rate that is considerably higher than the industry average of 15.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Nikola Corp will rise 67.60%, while the growth in revenue is estimated to hit 61.50% for the next quarter. Year-over-year growth is forecast to reach -21.90% down from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $14.25 million. 3 analysts are of the opinion that Nikola Corp’s revenue for the quarter ending Mar 2024 will be $36.57 million. The company’s revenue for the corresponding quarters a year ago was $6.56 million and $11.12 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 117.10%. The estimates for the next quarter sales put growth at 229.00%.
The 2023 estimates are for Nikola Corp earnings to increase by 20.12%, but the outlook for the next 5-year period is at 20.59% per year.
Nikola Corp is expected to release its next quarterly earnings report on November 02.
Nikola Corp (NASDAQ:NKLA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 13.83% of Nikola Corp shares while 27.96% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 32.45%. There are 27.96% institutions holding the Nikola Corp stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 5.72% of the shares, roughly 44.62 million NKLA shares worth $61.58 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.55% or 43.28 million shares worth $59.72 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 20.23 million shares estimated at $27.92 million under it, the former controlled 2.60% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.74% of the shares, roughly 13.57 million shares worth around $16.01 million.