Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nikola Corp shares valued at $8,709 were sold by Hoefelmann Dirk Ole on Jun 04 ’24. At $0.51 per share, Hoefelmann Dirk Ole sold 17,030 shares. The insider’s holdings dropped to 1,514,870 shares worth approximately $12.94 million following the completion of this transaction.
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Also, Girsky Stephen J purchased 1,000,000 shares, netting a total of over 540,000 in proceeds. Following the buying of shares at $0.54 each, the insider now holds 7,243,005 shares.
Before that, Worthen Britton M. had sold 109,980 shares from its account. In a trade valued at $74,852, the Chief Legal Officer traded Nikola Corp shares for $0.68 each. Upon closing the transaction, the insider’s holdings decreased to 109,980 shares, worth approximately $5.53 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 -8.96%. Over the course of the year, Nikola Corp shares have dropped approximately -67.46%. Shares of the company reached a 52-week high of $34.50 on 04/01/24 and a 52-week low of $7.25 on 07/02/24. A 50-day SMA is recorded $11.73, while a 200-day SMA reached $20.95. Nevertheless, trading volume fell to 1.93 million shares from 0.99 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 8.24, which, if violated, would cause prices to drop to 7.95. In the upper region, resistance lies at 8.95. The next price resistance is at 9.37. RSI (Relative Strength Index) is 36.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.48, which suggests the price will decrease in the coming days. Percent R is at 90.37%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
