Casing the Operational Data for Nikola Corporation (NKLA): 707.28 million in Cash

Nikola Corporation (NKLA) share are down around -2.70% in today market trading with stock price surged as much as 2.0% to hit day high of $25.2199, before returning a portion of loss to currently trading around $23.99 in the red. The company report on October 12, 2020 that NKLA ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of November 16, 2020 in the Class Action Filed on Behalf of Nikola Corporation, f/k/a VectoIQ Acquisition Corp. Limited Shareholders. The average transaction volume for NKLA over the past month (43423945 shares per day) is trailing its average daily volume over the past year by 198.13, which suggests market participants have been more active in this stock of late.

Nikola Corporation (NKLA) has been in rally mode, as indicated by the relationship between its 200-day and 20-day major moving averages. That said, over the past 30 days, NKLA shares have fallen -7.4%. The stock has moved up 142.09 over the trailing 12 months, gaining behind the rest of the market by 677.3%. It has also trailed competitors and similar names by 0.38%.

Looking at Key Indicators

Naturally, a cursory survey of superficial price points from the chart don’t say a whole lot about where NKLA shares could be headed. That’s why we need to dig a little deeper and check out what some of the most important momentum indicators seem to be saying.

The relationship between changes in price and the underlying strength or weakness over periods can point out deeper factors in the pattern that can often generate insights for technical analysts through momentum factors. Two of our favorite oscillating indicators are the Relative Strength Index (RSI) and the Stochastic %k Oscillator. In each case, the scoring is on a scale somewhere between 0 and 100, and in case, the levels to watch are “70” and “30”, with the former representing an “overbought” state and the latter presenting an “oversold” state.

With that in mind, here is a look at NKLA shares from this perspective. The 20-day RSI reading for NKLA is currently 42.49, which indicates that is not particularly expensive or cheap, and not predisposed to a reactive price movement based on this measure. If we look at the 20-day Stochastic %k measure, we find it at 42.11, which represents another indication of a neutral outlook.

Listening to the Analysts

Right now, NKLA shares appear to be trading -35.16% under the average price target for one year ahead from Wall Street analysts, which is at $37.00. On average, Street analysts put their recommendation at 3.00, which is scored on a scale from 1 to 5, with 1 representing a “Strong Buy” and 5 representing a “Strong Sell”.

That suggests analysts are neutral on NKLA looking ahead over the coming 12 months.

Assessing the Risk

We would also note that NKLA has posted average daily volatility over the past two weeks of 168.72%, or 31.8% less than it has scored on the same measure over the past hundred days.

The Fundamentals in Focus

As we now turn to the fundamental picture, we begin by analyzing it the way one might analyze a building: by starting with the foundation – the balance sheet. Without a strong foundation, the rest of the structure can’t stand.

For NKLA, cash levels are currently sitting at 707.28 million. That figure is balanced by 30.61 million in current liabilities. To further round out the picture, total assets are at 925.04 million and total liabilities sit at 43.45 million, granting a pretty thorough ground-up sense of the company and how it might withstand challenges ahead, should they appear.

In terms of recent free cash flow, NKLA, is currently reporting -52.09 million, which represents a quarterly net change of 617.45 million in cash flowing in the door. In terms of operations, the company reported -45.78 million in net operating cash flow.

Looking at the revenue path, we saw last quarter’s top-line number come in at 36000.0 in total revenues, which represents a y/y quarterly change of -176.92.

That brings us to the real meat of the matter: the bottom line. Nikola Corporation (NKLA) yielded a gross basic income of 6000.0, which comes on a Cost-of-Goods-Sold number registering at 30000.0, adding up to earnings per share of -0.41. Notably, the consensus view of analysts looking ahead to next quarter is currently at -0.25.

That allows us to round out this picture with a look at valuations. Based on this data, and the forecasts we have at hand, the coming fiscal year looks to be headed toward -0.95 in total earnings per share.

However, estimates are only guesses about the future. Both business and investment trends are more important to take into consideration.

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