Nikola Co. (NKLA) has been given an average rating of “BUY” by seven ratings firms currently covering the stock, according to a report by STA Research. Among the analysts who have issued reports on the company in the last year, one has recommended a “BUY,” while five have suggested a hold recommendation. Additionally, the average twelve-month price target from these analysts stands at $3.07.
Analyst Recommendations on NKLA Stock
Despite the “BUY” rating from the majority of firms, Nikola has experienced a range of recommendations in recent research reports. BTIG Research downgraded Nikola from a “buy” to a “neutral” rating in their report on Friday, March 31st. Following suit, TD Cowen also lowered their rating from “outperform” to “market perform” and slashed the stock’s target price from $5.00 to $1.00 in a report on Wednesday, May 10th
Director’s Stock Sale Raises Eyebrows
In a separate development, Director Mark A. Russell sold 75,000 shares of Nikola. The shares were sold at an average price of The shares were sold at an average price of $0.. (https://www.newslive.com) 79, totaling $59,250.00. Following the sale, the director holds 1,884,917 shares in the company, with an approximate value of $1,489,084.43. This insider selling was disclosed in a filing with the Securities & Exchange Commission.
Nikola Stock Shows Resilience with 2.0% Increase in Trading
Nikola stock opened at $2.50 on Monday, showcasing its resilience in the face of mixed analyst sentiments. The stock’s 50-day moving average price is $1.18, while the two-hundred day moving average price is $1.58. The company currently holds a quick ratio of 0.75, a current ratio of 1.20, and a debt-to-equity ratio of 0.54. Over the past year, Nikola’s stock has fluctuated between a low of $0.52 and a high of $8.97.
Quarterly Earnings Results Match Consensus Estimate
Nikola recently reported its quarterly earnings results on Tuesday, May 9th. The company’s earnings per share (EPS) for the quarter were reported at ($0.31), aligning with the consensus estimate of ($0.31). Notably, Nikola recorded a negative return on equity of 143.04% and a negative net margin of 1,332.76%. The firm’s revenue for the quarter amounted to $11.12 million, falling short of analysts’ expectations of $16.25 million. Looking ahead, equities analysts anticipate Nikola to post -0.98 EPS for the current year.
In conclusion, Nikola Co. (NKLA) has attracted a range of recommendations from analysts, with the majority suggesting a “BUY” rating. However, recent downgrades and insider selling have brought some uncertainty to investors. The company’s stock continues to demonstrate fluctuations in trading, but its quarterly earnings results were in line with expectations. As market conditions evolve, investors will closely monitor Nikola’s performance and management decisions to make informed investment choices.
