Nikola Corp [NKLA] stock prices are down -2.14% to $0.98 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The NKLA shares have gain 9.73% over the last week, with a monthly amount glided 47.80%, and seem to be holding up well over a long-time horizon.
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On 4, April 2024, NIKOLA CORPORATION ANNOUNCES DATE FOR FIRST QUARTER 2024 RESULTS AND WEBCAST AND Q&A PLATFORM FOR SHAREHOLDERS. In a post published today on Yahoo Finance, Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced it will report its first quarter ended March 31, 2024 financial results and business updates on Tuesday, May 7, 2024. On that day, Nikola’s management will hold a conference call and webcast at 10:30 a.m. ET (7:30 a.m. PT) to review and discuss the company’s business and outlook.
From an analyst’s perspective:
Previously, Robert W. Baird started tracking the stock with Outperform rating on January 24, 2024, and set its price target to $2. On May 10, 2023, downgrade downgraded it’s rating to Market Perform and revised its price target to $1 on the stock. BTIG Research downgraded its rating to a Neutral. Morgan Stanley initiated its recommendation with a Equal-Weight and recommended $3 as its price target on March 13, 2023. BTIG Research reiterated a Buy rating for this stock on January 17, 2023, and downed its price target to $5. In a note dated September 14, 2022, BTIG Research upgraded an Buy rating on this stock but restated the target price of $12.
The stock price of Nikola Corp [NKLA] has been fluctuating between $0.52 and $3.71 over the past year. Currently, Wall Street analysts expect the stock to reach $10 within the next 12 months. Nikola Corp [NASDAQ: NKLA] shares were valued at $0.98 at the most recent close of the market. An investor can expect a potential return of 920.41% based on the average NKLA price forecast.
Analyzing the NKLA fundamentals
The Nikola Corp [NASDAQ:NKLA] reported sales of 36.28M for trailing twelve months, representing a surge of 75.71%. Gross Profit Margin for this corporation currently stands at -6.38% with Operating Profit Margin at -18.52%, Pretax Profit Margin comes in at -24.04%, and Net Profit Margin reading is -26.63%. To continue investigating profitability, this company’s Return on Assets is posted at -0.74, Equity is -1.62 and Total Capital is -0.64. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.35.
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 0.9501 points at the first support level, and at 0.9217 for the second support level. However, for the 1st resistance point, the stock is sitting at 1.0085, and for the 2nd resistance point, it is at 1.0385.
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
It’s worth pointing out that Nikola Corp [NASDAQ:NKLA]’s Current Ratio is 2.20. Also, the Quick Ratio is 1.96, while the Cash Ratio stands at 1.79. Considering the valuation of this stock, the price to sales ratio is 36.03, the price to book ratio is 1.81.
Transactions by insiders
Recent insider trading involved Worthen Britton M., Chief Legal Officer, that happened on Mar 05 ’24 when 0.11 million shares were sold. Chief Human Resources Officer, Pike Joseph R. completed a deal on Mar 05 ’24 to sell 75162.0 shares. Meanwhile, Chief Operating Officer Chan Mary S sold 24627.0 shares on Mar 05 ’24.
