Why Do Investors Buy Stock In Nikola Corporation (NKLA)?
Nikola Corporation (NASDAQ:NKLA) has seen 7.75 million shares traded in the last trading session. The company, currently valued at $6.49B, closed the last trade at $17.21 per share which meant it lost -$0.34 on the day or -1.94% during that session. The NKLA stock price is -343.35% off its 52-week high price of $76.30 and 45.55% above the 52-week low of $9.37. If we look at the companys 10-day average daily trading volume, we find that it stood at 12.17 million shares traded. The 3-month trading volume is 14.38 million shares. The consensus among analysts is that Nikola Corporation (NKLA) is a Hold stock at the moment, with a recommendation rating of 2.60. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 6 out of 10 have rated it as a Hold, with 3 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.29. Nikola Corporation (NASDAQ:NKLA) trade information  Sporting -1.94% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 06/14/21 when the NKLA stock price touched $17.21 or saw a rise of 10.04%. Year-to-date, Nikola Corporation shares have moved 12.78%, while the 5-day performance has seen it change -2.49%. Over the past 30 days, the shares of Nikola Corporation (NASDAQ:NKLA) have changed 44.87%. Short interest in the company has seen 51.68 million shares shorted with days to cover at 4.03. Wall Street analysts have a consensus price target for the stock at $19.63, which means that the shares value could jump 12.33% from current levels. The projected low price target is $11.00 while the price target rests at a high of $30.00. In that case, then, we find that the current price level is -74.32% off the targeted high while a plunge would see the stock lose 36.08% from current levels. Nikola Corporation (NKLA) estimates and forecasts  Figures show that Nikola Corporation shares have underperformed across the wider relevant industry. The companys shares have lost -7.32% over the past 6 months, with this year growth rate of -72.58%, compared to 22.50% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -81.20% and -75.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 20,226.30%. 8 analysts offering their estimates for the company have set an average revenue estimate of $20k for the current quarter. 8 have an estimated revenue figure of $1.52 million for the next quarter concluding in Sep 2021. Year-ago sales stood $20k and $30k respectively for this quarter and the next, and analysts expect sales will shrink by 0.00% for the current quarter and 4,966.70% for the next. Earnings growth for 2021 is a modest -66.10% while over the next 5 years, the companys earnings are expected to increase by 20.59%. 5 Stocks Under $10 That Are Poised to Take Off Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck. Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck. Add them to your watchlist before they take off! Get the Top 5 Stocks Now! Sponsored  NKLA Dividends  Nikola Corporation is expected to release its next earnings report in July this year, and investors are excited at the prospect of better dividends despite the companys debt issue. Nikola Corporation (NASDAQ:NKLA)s Major holders  Insiders own 59.19% of the company shares, while shares held by institutions stand at 18.63% with a share float percentage of 45.65%. Investors are also buoyed by the number of investors in a company, with Nikola Corporation having a total of 297 institutions that hold shares in the company. The top two institutional holders are Norges Bank Investment Management with over 17.04 million shares worth more than $260.01 million. As of Dec 30, 2020, Norges Bank Investment Management held 4.35% of shares outstanding. The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 14.05 million shares as of Dec 30, 2020. The firms total holdings are worth over $214.34 million and represent 3.58% of shares outstanding. Also the top two Mutual Funds that are holding companys shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of Dec 30, 2020, the former fund manager holds about 1.24% shares in the company for having 4.87 million shares of worth $74.28 million while later fund manager owns 2.05 million shares of worth $31.22 million as of Dec 30, 2020, which makes it owner of about 0.52% of companys outstanding stock.