Nikola Corp (NASDAQ:NKLA) shares, rose in value, with the stock price down by -8.40% to the previous day’s close as strong demand from buyers drove the stock to $0.89.
Actively observing the price movement in the last trading, the stock closed the session at $0.97. The value of beta (5-year monthly) was 1.95. Referring to stock’s 52-week performance, its high was $3.71, and the low was $0.52. On the whole, NKLA has fluctuated by 28.10% over the past month.
With the market capitalization of Nikola Corp currently standing at about $1.19 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.09, which is expected to increase to -$0.09 for fiscal year -$0.4 and then to about -$0.31 by fiscal year 2025. Data indicates that the EPS growth is expected to be 49.40% in 2025, while the next year’s EPS growth is forecast to be 22.50%.
Analysts have estimated the company’s revenue for the quarter at $13.35 million, with a low estimate of $11.5 million and a high estimate of $15.1 million. According to the average forecast, sales growth in current quarter could jump up 20.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $169.72 million, representing an increase of 373.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NKLA’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NKLA currently trading nearly 22.02% and 23.22% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 60.13, while the 7-day volatility ratio is showing 17.00% which for the 30-day chart, stands at 10.18%. Furthermore, Nikola Corp (NKLA)’s beta value is 2.01, and its average true range (ATR) is 0.09.
A comparison of Nikola Corp (NKLA) with its peers suggests the former has fared considerably weaker in the market. NKLA showed an intraday change of -8.40% in last session, and over the past year, it shrunk by -26.30%%.
Data on historical trading for Nikola Corp (NASDAQ:NKLA) indicates that the trading volumes over the past 10 days have averaged 127.98 million and over the past 3 months, they’ve averaged 95.01 million. According to company’s latest data on outstanding shares, there are 1.33 billion shares outstanding.
Nearly 8.71% of Nikola Corp’s shares belong to company insiders and institutional investors own 33.81% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 252.38 million shares as on Mar 15, 2024, resulting in a short ratio of 2.75. According to the data, the short interest in Nikola Corp (NKLA) stood at 18.90% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 229.65 million. The stock has risen by 1.94% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NKLA stock heading into the next quarter.
