In the previous session, stock of Nikola Corporation (NKLA) opened at $32.23 and last traded at $30.67 x 1100. More than 19,010,793 shares exchanged hands compared to an average daily volume of 21,549,616 shares. At the current pps, the market capitalization stands at 11.067B.
Fundamentals you simply cannot ignore
Investors try to use stocks with high beta values to quickly recoup their investments after sharp market losses. Nikola Corporation (NKLA) currently has a Beta value of 0.42 . Beta is a measurement of a stock’s price fluctuations, which is often called volatility and is used by investors to gauge how quickly a stock’s price will rise or fall. A stock with a beta of greater than 1.0 is riskier and has greater price fluctuations, while stocks with beta values of less than 1.0 are steadier and generally larger companies. Beta is often measured against the S&P; 500 index. An S&P; 500 stock with a beta of 2.0 produced a 20 percent increase in returns during a period of time when the S&P; 500 Index grew only 10 percent. This same measurement also means the stock would lose 20 percent when the market dropped by only 10 percent.
The Analyst Chirp:
Nikola Corporation (NKLA) has received an average target price from analysts of $56.00 amounting to a recommendation rating of Overweight. That comes from 4 different analysts. Perhaps, the driver for that assessment comes from the company’s valuations. Drilling down a bit further, this quarter, we are looking at an average estimate from analysts for earnings per share level of 3.00. That shift to 3.00 heading into next quarter.
So whats the buzz ?
As per the recent press release: The Arizona facility is expected to generate more than 1,800 new full-time positions and result in approximately $600 million in new capital expenditures.