Nikola Corporation (NKLA) Stock’s Detailed Analysis – Marketing Sentinel
Nikola Corporation ((NASDAQ:NKLA)) has seen 17.54 million shares traded in the last trading session. The company, currently valued at $3.96B, closed the last trade at $9.53 per share which meant it lost -$0.42 on the day or -4.22% during that session. The NKLA stock price is -472.51% off its 52-week high price of $54.56 and 1.68% above the 52-week low of $9.37. If we look at the company’s 10-day average daily trading volume, we find that it stood at 18.01 million shares traded. The 3-month trading volume is 12.55 million shares.
The consensus among analysts is that Nikola Corporation (NKLA) is a Hold stock at the moment, with a recommendation rating of 2.60. 2 analysts rate the stock as a Sell, while 0 rate it as Overweight. 7 out of 12 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.29.
Sporting -4.22% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Friday, 08/13/21 when the NKLA stock price touched $9.53 or saw a rise of 17.49%. Year-to-date, Nikola Corporation shares have moved -37.55%, while the 5-day performance has seen it change -7.30%. Over the past 30 days, the shares of Nikola Corporation ((NASDAQ:NKLA)) have changed -33.17%. Short interest in the company has seen 55.63 million shares shorted with days to cover at 4.51.
Wall Street analysts have a consensus price target for the stock at $16.00, which means that the shares’ value could jump 40.44% from current levels. The projected low price target is $9.00 while the price target rests at a high of $25.00. In that case, then, we find that the current price level is -162.33% off the targeted high while a plunge would see the stock lose 5.56% from current levels.
Nikola Corporation (NKLA) estimates and forecasts
Figures show that Nikola Corporation shares have underperformed across the wider relevant industry. The company’s shares have lost -56.34% over the past 6 months, with this year growth rate of -46.77%, compared to 23.70% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -81.20% and -81.20% for the next quarter. Revenue growth from the last financial year stood is estimated to be 20,226.30%.
8 analysts offering their estimates for the company have set an average revenue estimate of $20k for the current quarter. 8 have an estimated revenue figure of $1.52 million for the next quarter concluding in Sep 2021. Year-ago sales stood $20k and $30k respectively for this quarter and the next, and analysts expect sales will shrink by 0.00% for the current quarter and 4,966.70% for the next.
Earnings growth for 2021 is a modest -64.50% while over the next 5 years, the company’s earnings are expected to increase by 20.59%.
Nikola Corporation is expected to release its next earnings report on May 07 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Nikola Corporation ((NASDAQ:NKLA))’s Major holders
Insiders own 56.21% of the company shares, while shares held by institutions stand at 20.78% with a share float percentage of 47.44%. Investors are also buoyed by the number of investors in a company, with Nikola Corporation having a total of 306 institutions that hold shares in the company. The top two institutional holders are Norges Bank Investment Management with over 17.04 million shares worth more than $260.01 million. As of Dec 30, 2020, Norges Bank Investment Management held 4.33% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 14.45 million shares as of Mar 30, 2021. The firm’s total holdings are worth over $200.74 million and represent 3.67% of shares outstanding.
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Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of Mar 30, 2021, the former fund manager holds about 1.24% shares in the company for having 4.87 million shares of worth $67.69 million while later fund manager owns 4.22 million shares of worth $58.55 million as of Mar 30, 2021, which makes it owner of about 1.07% of company’s outstanding stock.