Nikola(NKLA, $15.80) files to sell $100 million shares
Nikola has filed to sell $100 million worth of shares in a secondary offering.
The proceeds from the stock sale will be used for general corporate purposes, such as potentially providing funds to complete the company's Arizona manufacturing facility, and for developing electric and fuel cell commercial and hydrogen-station infrastructure.
Last month, Nikola revealed details about its hydrogen fuel cell electric commercial truck program. It unveiled trucks with ranges from 500 miles to 900 miles. It has plans to introduce fuel-cell-electric-vehicle variants of the Nikola Tre Cabover, the Nikola Tre FCEV and the Nikola Two FCEV Sleeper in the North American market.
The company had posted its fourth-quarter results late last month, that showed a narrower-than-expected adjusted quarterly loss.
NKLA's RSI Indicator climbs out of oversold territory
The RSI Oscillator for NKLA moved out of oversold territory on October 21, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 44 similar instances when the indicator left oversold territory. In of the 44 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 25, 2024. You may want to consider a long position or call options on NKLA as a result. In of 81 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for NKLA just turned positive on September 27, 2024. Looking at past instances where NKLA's MACD turned positive, the stock continued to rise in of 38 cases over the following month. The odds of a continued upward trend are .
NKLA moved above its 50-day moving average on October 28, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a +2 3-day Advance, the price is estimated to grow further. Considering data from situations where NKLA advanced for three days, in of 228 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NKLA declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
NKLA broke above its upper Bollinger Band on October 28, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for NKLA entered a downward trend on October 07, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. NKLA’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.932) is normal, around the industry mean (2.115). P/E Ratio (0.000) is within average values for comparable stocks, (25.104). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.737). Dividend Yield (0.000) settles around the average of (0.055) among similar stocks. P/S Ratio (23.202) is also within normal values, averaging (122.471).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. NKLA’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 70, placing this stock worse than average.
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Fundamental Analysis Ratings
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General Information
a company which engages in the provision of zero-emissions transportation and infrastructure solutions
Industry TrucksConstructionFarmMachinery