While Nikola Corp has underperformed by -7.03%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NKLA fell by -86.14%, with highs and lows ranging from $38.40 to $3.72, whereas the simple moving average fell by -72.28% in the last 200 days.
On May 16, 2024, Bryan Garnier started tracking Nikola Corp (NASDAQ: NKLA) recommending Buy. A report published by Wolfe Research on April 09, 2024, Initiated its previous ‘Peer Perform’ rating for NKLA. Robert W. Baird also rated NKLA shares as ‘Outperform’, setting a target price of $2 on the company’s shares in an initiating report dated January 24, 2024. TD Cowen May 10, 2023d the rating to Market Perform on May 10, 2023, and set its price target from $5 to $1. BTIG Research March 31, 2023d its ‘Buy’ rating to ‘Neutral’ for NKLA, as published in its report on March 31, 2023. Morgan Stanley’s report from March 13, 2023 suggests a price prediction of $3 for NKLA shares, giving the stock a ‘Equal-Weight’ rating. BTIG Research also rated the stock as ‘Buy’.
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Analysis of Nikola Corp (NKLA)
Further, the quarter-over-quarter increase in sales is 103.87%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Nikola Corp’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -164.54% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.24, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 2.94M can be a very valuable indicator of volatility for NKLA stock. On a monthly basis, the volatility of the stock is set at 7.72%, whereas on a weekly basis, it is put at 7.25%, with a loss of -4.57% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.00, showing growth from the present price of $3.97, which can serve as yet another indication of whether NKLA is worth investing in or should be passed over.
How Do You Analyze Nikola Corp Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 7.54%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 27.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
NKLA shares are owned by institutional investors to the tune of 27.50% at present.
