Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nikola Corp shares valued at $74,852 were sold by Worthen Britton M. on Mar 05 ’24. At $0.68 per share, Worthen Britton M. sold 109,980 shares. The insider’s holdings dropped to 647,449 shares worth approximately $0.38 million following the completion of this transaction.
Also, Pike Joseph R. sold 75,162 shares, netting a total of over 51,155 in proceeds. Following the sale of shares at $0.68 each, the insider now holds 429,790 shares.
Before that, Chan Mary S had sold 24,627 shares from its account. In a trade valued at $16,761, the Chief Operating Officer traded Nikola Corp shares for $0.68 each. Upon closing the transaction, the insider’s holdings decreased to 24,627 shares, worth approximately $0.32 million.
As published in their initiating research note from Wolfe Research on April 09, 2024, Nikola Corp [NKLA] has been a Peer perform. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in late January. As of May 10, 2023, TD Cowen has decreased its “an Outperform” rating to a “Market perform” for NKLA. Earlier on March 31, 2023, BTIG Research downgraded its rating. Their new recommendation was “a Neutral” for NKLA stock which previously was a “a Buy”.
Analyzing NKLA Stock Performance
During the last five days, there has been a drop of approximately -4.12%. Over the course of the year, Nikola Corp shares have dropped approximately -33.80%. Shares of the company reached a 52-week high of $1.1500 on 04/01/24 and a 52-week low of $0.5700 on 05/08/24. A 50-day SMA is recorded $0.7237, while a 200-day SMA reached $1.0489. Nevertheless, trading volume fell to 85.3 million shares from 89.11 million shares the previous day.
Support And Resistance Levels for Nikola Corp (NKLA)
According to the 24-hour chart, there is a support level at 0.5677, which, if violated, would cause prices to drop to 0.5564. In the upper region, resistance lies at 0.5927. The next price resistance is at 0.6064. RSI (Relative Strength Index) is 37.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0178, which suggests the price will decrease in the coming days. Percent R is at 92.09%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
