A share price of Nikola Corp [NKLA] is currently trading at $0.76, up 4.57%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The NKLA shares have gain 7.13% over the last week, with a monthly amount glided 6.81%, and seem to be holding up well over a long-time horizon.
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On 22, February 2024, Nikola Corporation Reports Fourth Quarter and Full Year 2023 Results. In a post published today on Yahoo Finance, Delivered the first production hydrogen fuel cell electric truck available in North America.
From an analyst’s perspective:
Nikola Corp [NASDAQ: NKLA] stock has seen the most recent analyst activity on January 24, 2024, when Robert W. Baird initiated its Outperform rating and assigned the stock a price target of $2. Previously, TD Cowen downgraded its rating to Market Perform on May 10, 2023, and dropped its price target to $1. On March 31, 2023, downgrade downgraded it’s rating to Neutral. Morgan Stanley started tracking the stock assigning a Equal-Weight rating and suggested a price target of $3 on March 13, 2023. BTIG Research reiterated its recommendation of a Buy and reduced its price target to $5 on January 17, 2023. BTIG Research upgraded its rating to Buy for this stock on September 14, 2022, but kept the price target unchanged to $12. In a note dated February 25, 2022, RBC Capital Mkts reiterated an Sector Perform rating on this stock and revised its target price from $11 to $8.
Nikola Corp experienced fluctuations in its stock price throughout the past year between $0.52 and $3.71. Currently, Wall Street analysts expect the stock to reach $10 within the next 12 months. Nikola Corp [NASDAQ: NKLA] shares were valued at $0.76 at the most recent close of the market. An investor can expect a potential return of 1215.79% based on the average NKLA price forecast.
Analyzing the NKLA fundamentals
Trailing Twelve Months sales for Nikola Corp [NASDAQ:NKLA] were 36.28M which represents 75.71% growth. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 0.7199 points at the first support level, and at 0.6839 for the second support level. However, for the 1st resistance point, the stock is sitting at 0.7769, and for the 2nd resistance point, it is at 0.7979.
Nikola Corp [NKLA] reported earnings per share of -$0.11 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.13/share, meaning a difference of $0.02 and a surprise factor of 15.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.3 per share as compared to estimates of -$0.14 per share, a difference of -$0.16 representing a surprise of -114.30%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Nikola Corp [NASDAQ:NKLA] is 2.20. As well, the Quick Ratio is 1.96, while the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 24.12, the price to book ratio is 1.24.
Transactions by insiders
Recent insider trading involved Pasterick Anastasiya, Chief Financial Officer, that happened on Sep 06 when 6709.0 shares were sold. Chief Legal Officer, Worthen Britton M. completed a deal on Aug 10 to sell 0.12 million shares. Meanwhile, Chief Human Resources Officer Pike Joseph R. sold 80937.0 shares on Aug 10.
