Nikola Corp [NKLA] stock prices are down -0.10% to $9.98 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The NKLA shares have gain 11.01% over the last week, with a monthly amount drifted -32.14%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Nikola Corp [NASDAQ: NKLA] stock has seen the most recent analyst activity on May 16, 2024, when Bryan Garnier initiated its Buy rating and assigned the stock a price target of $1. On January 24, 2024, Robert W. Baird initiated with a Outperform rating and assigned a price target of $2 on the stock. TD Cowen downgraded its rating to a Market Perform and decreased its price target to $1 on May 10, 2023. BTIG Research downgraded its rating to a Neutral. Morgan Stanley started tracking with a Equal-Weight rating for this stock on March 13, 2023, and assigned it a price target of $3. In a note dated January 17, 2023, BTIG Research reiterated an Buy rating on this stock and revised its target price from $7 to $5.
The stock price of Nikola Corp [NKLA] has been fluctuating between $7.25 and $111.30 over the past year. Currently, Wall Street analysts expect the stock to reach $8 within the next 12 months. Nikola Corp [NASDAQ: NKLA] shares were valued at $9.98 at the most recent close of the market. An investor can expect a potential drop of -19.84% based on the average NKLA price forecast.
Analyzing the NKLA fundamentals
The Nikola Corp [NASDAQ:NKLA] reported sales of 32.66M for trailing twelve months, representing a drop of -32.56%. Gross Profit Margin for this corporation currently stands at -7.84% with Operating Profit Margin at -20.4%, Pretax Profit Margin comes in at -26.3%, and Net Profit Margin reading is -28.92%. To continue investigating profitability, this company’s Return on Assets is posted at -0.82, Equity is -1.55 and Total Capital is -0.76. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.43.
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 9.69 points at the first support level, and at 9.41 for the second support level. However, for the 1st resistance point, the stock is sitting at 10.30, and for the 2nd resistance point, it is at 10.63.
Ratios To Look Out For
It’s worth pointing out that Nikola Corp [NASDAQ:NKLA]’s Current Ratio is 1.73. On the other hand, the Quick Ratio is 1.46, and the Cash Ratio is 1.28. Considering the valuation of this stock, the price to sales ratio is 13.82, the price to book ratio is 0.76.
Transactions by insiders
Recent insider trading involved Hoefelmann Dirk Ole, President, Energy, that happened on Jun 04 ’24 when 17030.0 shares were sold. Chief Executive Officer, Girsky Stephen J completed a deal on May 20 ’24 to buy 1.0 million shares. Meanwhile, Chief Legal Officer Worthen Britton M. sold 0.11 million shares on Mar 05 ’24.
