The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Nikola Corp shares valued at $540,000 were purchased by Girsky Stephen J on May 20 ’24. At $0.54 per share, Girsky Stephen J acquired 1,000,000 shares. The insider’s holdings grew to 7,243,005 shares worth approximately $3.84 million following the completion of this transaction.
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Also, Worthen Britton M. sold 109,980 shares, netting a total of over 74,852 in proceeds. Following the sale of shares at $0.68 each, the insider now holds 647,449 shares.
Before that, Pike Joseph R. had sold 75,162 shares from its account. In a trade valued at $51,155, the Chief Human Resources Officer traded Nikola Corp shares for $0.68 each. Upon closing the transaction, the insider’s holdings decreased to 75,162 shares, worth approximately $0.23 million.
As published in their initiating research note from Bryan Garnier on May 16, 2024, Nikola Corp [NKLA] has been a Buy and the price target has been revised to $1. Analysts at Wolfe Research started covering the stock with ‘”a Peer perform”‘ outlook in a report released in early April. As of January 24, 2024, Robert W. Baird has initiated its “an Outperform” rating for NKLA. Earlier on May 10, 2023, TD Cowen downgraded its rating. Their new recommendation was “a Market perform” for NKLA stock which previously was a “an Outperform”.
Analyzing NKLA Stock Performance
During the last five days, there has been a drop of approximately -3.82%. Over the course of the year, Nikola Corp shares have dropped approximately -39.57%. Shares of the company reached a 52-week high of $1.1500 on 04/01/24 and a 52-week low of $0.5100 on 05/20/24. A 50-day SMA is recorded $0.6908, while a 200-day SMA reached $0.9391. Nevertheless, trading volume fell to 67.61 million shares from 78.57 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 0.5158, which, if violated, would cause prices to drop to 0.5029. In the upper region, resistance lies at 0.5387. The next price resistance is at 0.5487. RSI (Relative Strength Index) is 35.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0254, which suggests the price will decrease in the coming days. Percent R is at 89.05%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
