Nikola Corp’s filing revealed that its Chief Legal Officer Worthen Britton M. unloaded Company’s shares for reported $74852.0 on Mar 05 ’24. In the deal valued at $0.68 per share,109,980 shares were sold. As a result of this transaction, Worthen Britton M. now holds 647,449 shares worth roughly $0.52 million.
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Then, Pike Joseph R. sold 75,162 shares, generating $51,155 in total proceeds. Upon selling the shares at $0.68, the Chief Human Resources Officer now owns 429,790 shares.
Before that, Chan Mary S sold 24,627 shares. Nikola Corp shares valued at $16,761 were divested by the Chief Operating Officer at a price of $0.68 per share. As a result of the transaction, Chan Mary S now holds 546,230 shares, worth roughly $0.44 million.
Robert W. Baird initiated its Nikola Corp [NKLA] rating to an Outperform in a research note published on January 24, 2024; the price target was $2. A number of analysts have revised their coverage, including TD Cowen’s analysts, who decreased its forecast for the stock in early May from “an Outperform” to “a Market perform”. BTIG Research also remained covering NKLA and has decreased its forecast on March 31, 2023 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley started covering the stock on March 13, 2023. It rated NKLA as “an Equal-weight”.
Price Performance Review of NKLA
On Tuesday, Nikola Corp [NASDAQ:NKLA] saw its stock jump 9.45% to $0.81. Over the last five days, the stock has gained 31.47%. Nikola Corp shares have fallen nearly -6.96% since the year began. Nevertheless, the stocks have fallen -45.74% over the past one year. While a 52-week high of $3.71 was reached on 01/02/24, a 52-week low of $0.52 was recorded on 03/14/24. SMA at 50 days reached $0.6956, while 200 days put it at $1.1685. A total of 120.51 million shares were traded, compared to the trading of 63.36 million shares in the previous session.
Levels Of Support And Resistance For NKLA Stock
The 24-hour chart illustrates a support level at 0.7359, which if violated will result in even more drops to 0.6580. On the upside, there is a resistance level at 0.8634. A further resistance level may holdings at 0.9130. The Relative Strength Index (RSI) on the 14-day chart is 65.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0767, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 8.34%. Stochastics %K at 78.50% indicates the stock is a holding.
How much short interest is there in Nikola Corp?
A steep rise in short interest was recorded in Nikola Corp stocks on Feb 29, 2024, dropping by -0.73 million shares to a total of 216.73 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 217.46 million shares. There was a decline of -0.34%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 16.78% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.48.
The most recent change occurred on January 17, 2023 when BTIG Research resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $5.
