Moderate Buy Nikola Corporation [NKLA] Stock Before Shares Hit Major Turbulence

Over the past three months, Nikola Corporation [NKLA] ended the trading day at $18.44 and exhibited a change of -2.33% with a 24 hour trading and reached upto the volume of 33.97M compared to its recorded trading volume of 15.43 million. NKLA generated a 1 year amount change with 79.90%. Though for Principal markets a year is counted as a long time period. By having a look at the most recent performance of this stock, in the last week its amount moved by -9.65% with an amount shift of -7.57% over the last month.

On 30, November 2020, Nikola Signs MOU with General Motors. According to news published on Yahoo Finance, Nikola Corporation (NASDAQ: NKLA) today announced the signing of a non-binding Memorandum of Understanding (“MOU”) with General Motors for a global supply agreement related to the integration of GM’s Hydrotec fuel-cell system into Nikola’s commercial semi-trucks. This supersedes and replaces the transaction announced on September 8, 2020.

Analyst Birdseye View:

The most recent analyst activity for Nikola Corporation [NASDAQ:NKLA] stock was on September 24, 2020, when it was Downgrade with an Underperform rating from Wedbush, which also lowered its 12-month price target on the stock from $45 to $15. Before that, on November 20, 2020, Loop Capital Recapitulated a Buy rating and elevated its amount target to $35. On August 26, 2020, Wedbush Initiated a Neutral rating and boosted its price target on this stock to $45. On July 16, 2020, Deutsche Bank Initiated a Hold rating and increased its price target to $54. On July 08, 2020, JP Morgan Upgrade an Overweight rating and increased its price target to $45. On July 07, 2020, RBC Capital Mkts Initiated a Sector perform rating and boosted its amount on this stock to $46. On June 22, 2020, JP Morgan Initiated a Neutral rating and boosted its target amount on this stock to $45. Cowen elevated its amount target by recapitulating a higher weight for this stock.

In the past 52 weeks of trading, this stock has oscillated between a low of $10.27 and a peak of $93.99. Right now, according to Wall Street analyst the average 12-month amount target is $30.00. At the most recent market close, shares of Nikola Corporation [NASDAQ:NKLA] were valued at $18.44. According to the average price forecast, investors can expect a potential return of 1.64%.

FUNDAMENTAL ANALYSIS

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 18.03 points at 1st support level, the second support level is making up to 17.63. But as of 1st resistance point, this stock is sitting at 19.11 and at 19.79 for 2nd resistance point.

Nikola Corporation [NKLA] reported its earnings at -$0.16 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.19/share signifying the difference of 0.03 and 15.80% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$0.16 calling estimates for -$0.13/share with the difference of -0.03 depicting the surprise of -23.10%.

Insider Stories

The most recent insider trade was by Milton Trevor R., Executive Chairman, and it was the purchase of 41400.0 shares on Sep 14. UBBEN JEFFREY W, the Director, completed a sale of 1.4 million shares on Aug 11.