A company insider recently sold 75,000 shares of Nikola Corporation [NKLA]. Should You also Consider to Sale?

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Nikola Corporation’s recent filing unveils that its Chief Executive Officer RUSSELL MARK A unloaded Company’s shares for reported $0.24 million on Nov 03. In the deal valued at $3.15 per share,75,000 shares were sold. As a result of this transaction, RUSSELL MARK A now holds 2,812,346 shares worth roughly $ 8.32 million.


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Then, RUSSELL MARK A sold 75,000 shares, generating $256,038 in total proceeds. Upon selling the shares at $3.41, the Chief Executive Officer now owns 2,812,346 shares.

Before that, RUSSELL MARK A sold 75,000 shares. Nikola Corporation shares valued at $264,830 were divested by the Chief Executive Officer at a price of $3.53 per share. As a result of the transaction, RUSSELL MARK A now holds 2,812,346 shares, worth roughly $8.32 million.

BTIG Research upgraded its Nikola Corporation [NKLA] rating to a Buy from a a Neutral in a research note published on Friday. PT values the company’s stock at a premium of 75.33 to its Friday closing price. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who remained covering the stock and in late February has reiterated a ‘”a Sector perform”‘ rating for it. JP Morgan also remained covering NKLA and reiterated its “Neutral” recommendation on February 25, 2022. Deutsche Bank maintained its rating on February 25, 2022. It rated NKLA as “a Hold”.

Price Performance Review of NKLA

On Friday, Nikola Corporation [NASDAQ:NKLA] saw its stock jump 0.68% to $2.96. On the same session, the stock had its day’s lowest price of $2.85, but rose to a high of $3.06. Over the last five days, the stock has lost -7.50%. Nikola Corporation shares have fallen nearly -70.01% since the year began. Nevertheless, the stocks have fallen -80.83% over the past one year. While a 52-week high of $15.56 was reached on 03/30/22, a 52-week low of $2.80 was recorded on 10/19/22. SMA at 50 days reached $4.01, while 200 days put it at $6.31. A total of 15.17 million shares were traded, compared to the trading of 9.49 million shares in the previous session.

Levels Of Support And Resistance For NKLA Stock

The 24-hour chart illustrates a support level at 2.85, which if violated will result in even more drops to 2.75. On the upside, there is a resistance level at 3.06. A further resistance level may holdings at 3.17. The Relative Strength Index (RSI) on the 14-day chart is 39.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.32%. Stochastics %K at 22.79% indicates the stock is a holding.

How much short interest is there in Nikola Corporation?

A steep rise in short interest was recorded in Nikola Corporation stocks on Jul 14, 2022, growing by 3.89 million shares to a total of 87.16 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 83.27 million shares. There was a rise of 4.46%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 27.64% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.33.

Nikola Corporation [NKLA] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 22,368,936 shares, or roughly 5.16% of the outstanding NKLA shares. In other words, the investor’s shares have risen by 3,800,081 from its previous 13-F filing of 18568855.0. Additionally, Norges Bank Investment Management increased 9.62% of its stake after which the total value it holdings stand at $59,976,798, while BlackRock Fund Advisors added 24.68% of its stake to hold $54.99 million in the firm. Over the last quarter, Inclusive Capital Partners LP sold -600,000 shares of Nikola Corporation, while Coatue Management LLC sold 2,444 shares. At present, SSgA Funds Management, Inc. is holding 5,539,099 shares valued at $19.5 million. Geode Capital Management LLC owned 4,575,562 shares of the company at the time of its most recent 13F filing, worth $16.11 million.

The most recent change occurred on February 25, 2022 when Cowen resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $15.

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