Nikola Corporation (NKLA) Will Continue To Grow In 2021. – Marketing Sentinel | Fintech Zoom
In the latest trading session, 3.42 million Nikola Corporation (((NASDAQ:NKLA))) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $10.01 changed hands at -$0.02 or -0.20% at last look, the market valuation stands at $4.07B. NKLA’s current price is a discount, trading about -279.12% off its 52-week high of $37.95. The share price had its 52-week low at $9.02, which suggests the last value was 9.89% up since then. When we look at Nikola Corporation’s average trading volume, we note the 10-day average is 10.87 million shares, with the 3-month average coming to 12.05 million.
Analysts gave the Nikola Corporation (NKLA) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 2 out of 12 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 7 recommended NKLA as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Nikola Corporation’s EPS for the current quarter is expected to be -$0.28.
Instantly NKLA was in red as seen in intraday trades today. With action -4.11%, the performance over the past five days has been red. The drop to weekly highs of 10.70 on Monday, 09/13/21 subtracted -0.20% to the stock’s daily price. The company’s shares are showing year-to-date downside of -34.27%, with the 5-day performance at -4.11% in the red. However, in the 30-day time frame, Nikola Corporation (((NASDAQ:NKLA))) is 0.80% up. Looking at the short shares, we see there were 55.63 million shares sold at short interest cover period of 4.51 days.
The consensus price target for the stock as assigned by Wall Street analysts is $15.00, meaning bulls need an upside of 33.27% from its recent market value. According to analyst projections, NKLA’s forecast low is $9.00 with $25.00 as the target high. To hit the forecast high, the stock’s price needs a -149.75% plunge from its current level, while the stock would need to tank 10.09% for it to hit the projected low.
Nikola Corporation (NKLA) estimates and forecasts
Data shows that the Nikola Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -41.21% over the past 6 months, a -41.94% in annual growth rate that is considerably lower than the industry average of 15.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Nikola Corporation will fall -75.00%, while the growth in revenue is estimated to hit -76.50% for the next quarter. Year-over-year growth is forecast to reach 5,542.10% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $1.25 million. 7 analysts are of the opinion that Nikola Corporation’s revenue for the quarter ending Dec 2021 will be $5.43 million. The company’s revenue for the corresponding quarters a year ago was $30k. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 4,066.70%.
The 2021 estimates are for Nikola Corporation earnings to decrease by -43.50%, but the outlook for the next 5-year period is at 20.59% per year.
Nikola Corporation is expected to release its next quarterly earnings report on May 07.
If we look at who the major shareholders are, we find that insiders hold 56.21% of Nikola Corporation shares while 20.78% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 47.44%. There are 20.78% institutions holding the Nikola Corporation stock share, with Norges Bank Investment Management the top institutional holder. As of Dec 30, 2020, the company held 4.33% of the shares, roughly 17.04 million NKLA shares worth $260.01 million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 3.67% or 14.45 million shares worth $200.74 million as of Mar 30, 2021.
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Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 4.87 million shares estimated at $67.69 million under it, the former controlled 1.24% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 1.07% of the shares, roughly 4.22 million shares worth around $58.55 million.