The trading price of Nikola Corp (NASDAQ:NKLA) floating lower at last check on Monday, April 01, closing at $1.00, -3.84% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $3.71 and a 52-week low of $0.52. Over the past month, the stock has gained 34.39% in value.
Nikola Corp, whose market valuation is $1.34 billion at the time of this writing, is expected to release its quarterly earnings report May 07, 2024 – May 13, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.09 per share this quarter, however they have predicted annual earnings per share of -$0.4 for 2024 and -$0.31 for 2025. It means analysts are expecting annual earnings per share growth of 49.40% this year and 22.50% next year.
Analysts have forecast the company to bring in revenue of $13.35 million for the current quarter, with the likely lows of $11.5 million and highs of $15.1 million. The average estimate suggests sales will likely up by 20.10% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $169.72 million. The company’s revenue is forecast to grow by 373.60% over what it did in 2024.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Nikola Corp No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NKLA has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently Hold.
A quick review shows that NKLA’s price is currently 42.45% off the SMA20 and 41.03% off the SMA50. The RSI metric on the 14-day chart is currently showing 72.99, and weekly volatility stands at 16.37%. When measured over the past 30 days, the indicator reaches 9.04%. Nikola Corp (NASDAQ:NKLA)’s beta value is currently sitting at 1.99, while the Average True Range indicator is currently displaying 0.08.
To see how Nikola Corp stock has been performing today in comparison to its peers in the industry, here are the numbers: NKLA stock’s performance was -3.84% at last check in today’s session, and -33.33% in the past year.
An evaluation of the daily trading volume of Nikola Corp (NASDAQ:NKLA) indicates that the 3-month average is 93.23 million. However, this figure has increased over the past 10 days to an average of 105.67 million.
Currently, records show that 1.33 billion of the company’s shares remain outstanding. The insiders hold 8.71% of outstanding shares, whereas institutions hold 33.80%. The stats also highlight that short interest as of Mar 15, 2024, stood at 252.38 million shares, resulting in a short ratio of 2.75 at that time. From this, we can conclude that short interest is 18.90% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 229.65 million. However, since the stock’s price has seen 14.32% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
