While Nikola Corp has underperformed by -0.96%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NKLA fell by -31.33%, with highs and lows ranging from $3.71 to $0.52, whereas the simple moving average fell by -12.03% in the last 200 days.
On January 24, 2024, Robert W. Baird started tracking Nikola Corp (NASDAQ: NKLA) recommending Outperform. A report published by TD Cowen on May 10, 2023, Downgraded its rating to ‘Market Perform’ for NKLA. Morgan Stanley Initiated an Equal-Weight rating on March 13, 2023, and assigned a price target of $3. BTIG Research resumed its ‘Buy’ rating for NKLA, as published in its report on January 17, 2023. BTIG Research’s report from September 14, 2022 suggests a price prediction of $12 for NKLA shares, giving the stock a ‘Buy’ rating. RBC Capital Mkts also rated the stock as ‘Sector Perform’.
Analysis of Nikola Corp (NKLA)
Further, the quarter-over-quarter increase in sales is 75.71%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Nikola Corp’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -142.65% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.96, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and NKLA is recording an average volume of 93.23M. On a monthly basis, the volatility of the stock is set at 9.59%, whereas on a weekly basis, it is put at 18.79%, with a gain of 55.52% over the past seven days. Furthermore, long-term investors anticipate a median target price of $1.70, showing growth from the present price of $1.03, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 8.71%. 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 33.80% 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 33.80% at present.
