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Tuesday, September 26, 2023

Is Nikola Corporation (NASDAQ: NKLA) Still On The Rise?

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Nikola Corporation (NKLA) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.01, or -0.84%, to $1.18. The Nikola Corporation has recorded 12,487,914 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted NIKOLA ANNOUNCES EXPANSION OF DEALER SALES AND SERVICE NETWORK INTO CANADA IN PARTNERSHIP WITH ITD INDUSTRIES.

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Stocks Info

This NASDAQ-listed company operates within the Farm & Heavy Construction Machinery industry segment, falling under the Industrials sector. At the end of the last regular session, the stock closed at $1.19 and fluctuated between $1.3800 as its day high and $1.1500 as its day low. The current market capitalization of Nikola Corporation is $984.80M. A total of 270.81 million shares were traded on the day, compared to an average of 89.57M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, NKLA has seen 3 BUY and 5 SELL insider trades, representing the acquisition of 627,081 and the disposition of 290,769 shares. Over the last 12 months, there were 83 BUYs and 162 SELLs from insiders. Insiders purchased 6,835,736 shares during that period but sold 7,024,902.

In the most recent transaction, Pasterick Anastasiya sold 6,709 shares of NKLA for 1.12 per share on Sep 06. After the transaction, the Chief Financial Officer now owns 167,777 company shares. In a previous transaction on Aug 10, Worthen Britton M. sold 121,404 shares at 1.96 per share. NKLA shares that Chief Legal Officer owns now total 757,429.

Among the insiders who sold shares, Pike Joseph R. disposed of 80,937 shares on Aug 10 at a per-share price of $1.96. This resulted in the Chief Human Resources Officer holding 504,952 shares of NKLA after the transaction. In another insider transaction, Lohscheller Michael sold 68,985 shares at $1.96 per share on Aug 10. Company shares held by the Director now total 780,199.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for NKLA in the last 3 months, the mean price target is $2.70 with high estimates of $5.00 and low estimates of $1.00. In terms of 52-week highs and lows, NKLA has a high of $5.45 and a low of $0.52.

As of this writing, NKLA has an earnings estimate of -$0.15 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of -$0.11 per share and a lower estimate of -$0.19.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. NKLA’s latest balance sheet shows that the firm has $497.24M in Cash & Short Term Investments as of fiscal 2021. There were $27.45M in debt and $180.61M in liabilities at the time. Its Book Value Per Share was $0.74, while its Total Shareholder’s Equity was $693.57M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for NKLA is Buy with a score of 3.00.

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