In the last trading session, 10,622,969 shares of the Nikola Corporation(NASDAQ:NKLA) were traded, and its beta was 0. Most recently the company’s share price was $17.65, and it changed around $0.66 or 0.04% from the last close, which brings the market valuation of the company to $6.95 Billion. NKLA currently trades at a discount to its 52-week high of $93.99, offering almost -432.52% off that amount. The share price’s 52-week low was $9.37, which indicates that the current value has risen by an impressive 46.91% since then. We note from Nikola Corporation’s average daily trading volume that its 10-day average is 16.57 Million shares, with the 3-month average coming to 14.36 Million.
Nikola Corporation stock received a consensus recommendation rating of Hold, based on a mean score of 2.7. If we narrow it down even further, the data shows that none out of 10 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 6 recommended NKLA as a Hold, whereas 3 deemed it a Buy, and 1 rated it as Underweight. Nikola Corporation is expected to report earnings per share of -$0.29 for the current quarter.
Instantly NKLA has showed a green trend with a performance of 3.88% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $19.52 on Thursday, Jun 03 increased the stock’s daily price by 9.58%. The company’s shares are currently up 0.16% year-to-date, but still up 0.1798 over the last five days. On the other hand, Nikola Corporation (NASDAQ:NKLA) is 0.53% up in the 30-day period. We can see from the shorts that 59.74 Million shares have been sold at a short interest cover period of 4.16 day(s).
The consensus price target as assigned by Wall Street analysts is $19.63, which translates to bears needing to increase their stock price by 11.22% from its current value. Analyst projections state that NKLA is forecast to be at a low of $11 and a high of $30. In order for the stock price to hit the forecast high, the stock would need to surge +69.97% from its current level, while the stock would need to crash -37.68% from its current level to reach the projected low.
Nikola Corporation (NKLA) projections and forecasts
Nikola Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -7.01 percent over the past six months and at a -72.58% annual growth rate that is well below the industry average of 22.2%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -81.2% in revenue this quarter, and will report a decline of -75% in the next quarter. The year-over-year growth rate is expected to be 20226.3%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $20Million in revenue for the current quarter. 8 analysts expect Nikola Corporation to make $1.52 Million in revenue for the quarter ending September 01, 2021. The company’s sales for the same quarters a year ago were $20Million and $30Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at 0%. Forecasts for the next quarter put sales growth at 4966.7%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Nikola Corporation earnings are expected to decrease by -66.1% in 2021, but the outlook is positive 20.59% per year for the next five years.
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Nikola Corporation (NASDAQ:NKLA)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 56.21% of Nikola Corporation shares, and 20.77% of them are in the hands of institutional investors. The stock currently has a share float of 47.43%. Nikola Corporation stock is held by 307 institutions, with Norges Bank Investment Management being the largest institutional investor. By Dec 30, 2020, it held 4.33% of the shares, which is about 17.04 Million shares worth $260.01 Million.
Vanguard Group, Inc. (The), with 3.67% or 14.45 Million shares worth $200.74 Million as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Mar 30, 2021. The former held 4873631 shares worth $67.69 Million, making up 1.24% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 4.22 Million shares worth around $58.55 Million, which represents about 1.07% of the total shares outstanding.