Nikola Corp (NASDAQ:NKLA) traded at $1.02 at close of the session on Friday, April 05, made an upward move of 7.37% on its previous day’s price.
Looking at the stock we see that its previous close was $0.95 and the beta (5Y monthly) reads 1.95 . In terms of its 52-week price range, NKLA has a high of $3.71 and a low of $0.52. The company’s stock has gained about 45.09% over that past 30 days.
Nikola Corp has a market cap of $1.36 billion and is expected to release its quarterly earnings report on May 07, 2024 – May 13, 2024. Estimates by analysts give the company expected earnings per share (EPS) of -$0.1, with the EPS growth for the year raised at -$0.4 for 2024 and -$0.31 for next year. These figures represent 49.40% and 22.50% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $14.23 million, with a low of $11.5 million and a high of $18.1 million. The median projection represents growth squeezing down to 28.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $170.67 million, or 376.20% up from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the NKLA stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of Hold.
Looking further, we note the current price level is 35.28% off its SMA20 and 38.87% from its 50-day simple moving average. The RSI (14) is pointing at 67.68 while the volatility over the past week is 13.08% and jumps to 10.63% over the past one month. The beta value is 2.01, while the average true range (ATR) is currently pointing at 0.09.
Coming back to Nikola Corp (NASDAQ:NKLA), we note that the average 3-month trading volume was 94.47 million, while that of the preceding 10-day period stands at 144.54 million. Current shares outstanding are 1.33 billion.
The insiders hold 8.71% of the company’s shares while institutions hold 33.81%. The data shows that short shares as of Mar 15, 2024, stood at 252.38 million at a short ratio of 2.75. This represents a 18.90% short interest in shares outstanding on Mar 15, 2024. Shares short rose in March from the previous month at 229.65 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 16.60% up in year-to-date price movement.
