Nkla stock price moves up to $6

NKLA stock price moves up to $6.32 as sentiment shifts on green hydrogen initiatives, which may diversify Nikola’s energy portfolio and appeal to ESG-focused funds. Shares of this pioneer in zero-emission trucks have returned -7.4% over the past month versus the Zacks S&P 500 composite's +5.3% change. The Zacks Automotive - Domestic industry, to which Nikola belongs, has lost 7.7% over this period. Now the key question is: Where could the stock be headed in the near term? It should be noted that all of these price targets have been significantly lowered during the last year, even if the recommendation has remained static. Despite some bullish reports, the company continues to hemorrhage money. Through three quarters in 2024, Nikola has earned only $64 million in revenue and its liabilities continue to balloon. In Q3 2024, the company announced $1.04 billion in assets versus $656 million in liabilities, marking the fourth straight quarter the firm’s debt-to-asset ratio moved in the wrong direction. NKLA stock price is at $6.27 after mild selling pressure in afternoon trading. Relative Strength Index stands at 54, indicating a neutral technical setup. Watch for institutional flows in the next earnings period to dictate near-term moves.