Bryan Garnier has recently reduced Nikola Corp (NKLA) stock to Neutral rating, as announced on November 7, 2024, according to Finviz. Earlier, on May 16, 2024, Bryan Garnier had initiated the stock to Buy, setting a price target of $1. Wolfe Research also initiated Peer Perform rating. Additionally, Robert W. Baird initiated Outperform rating on January 24, 2024, with a target price of $2. TD Cowen analysts, in their report published on May 10, 2023, also reduced Market Perform rating and set a price target of $5 for Nikola Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Nikola Corp (NKLA) Stock Trading Recap
On Tuesday, Nikola Corp (NKLA) stock saw a decline, ending the day at $1.67 which represents a decrease of $-0.17 or -9.24% from the prior close of $1.84. The stock opened at $1.8 and touched a low of $1.64 during the day, reaching a high of $1.82. The volume of shares traded was 13.03 million exceeding the average volume of 4.82 million.
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NKLA Stock Performance and Moving Averages
In recent trading, Nikola Corp (NKLA) stock price has shown some volatility, fluctuating -20.48% over the last five trades and -55.53% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -88.94%, and it has plunged by -71.74% in the previous three months. Currently, NKLA is trading at -30.58%, -53.40%, and -85.80% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, NKLA, a Industrials sector stock, is trading -95.16% below its 52-week high but remains -7.73% above its 52-week low. The Average True Range (ATR) (14 days) of 0.28 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Nikola Corp’s Profitability and Valuation Ratios
Nikola Corp’s profitability metrics reveal financial health. The company currently boasts an operating margin of -716.60% and a profit margin of -840.44%, with a gross margin of -88.94%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Nikola Corp’s market capitalization stands at $101.65 million. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 1.35, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 0.24, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.00% of Nikola Corp (NKLA)’s shares, while financial institutions hold 24.45%.
