IKONICS Corporation [NASDAQ: IKNX] price surged by 6.97 percent to reach at $0.73. The company report on October 30, 2020 that IKONICS Announces Third Quarter 2020 Results.
IKONICS Corporation (the “Company” or “IKONICS”) (Nasdaq:IKNX), a Duluth-based imaging technology company, announced third quarter 2020 earnings. IKONICS recorded third quarter 2020 revenue of $3,135,000 compared to $4,530,000 in 2019, a decline of 31%. IKONICS posted a third quarter 2020 loss of $274,000, or $0.14 per diluted share, compared to a loss of $163,000, or $0.08 per diluted share, for the same period in 2019. For the nine months ending September 30, 2020, the Company realized a net loss of $0.96 per diluted share compared to a net loss of $0.37 per diluted share for the same period in 2019.
Glenn Sandgren, IKONICS President and CEO, commenting on the third quarter noted, “We believe the Company has turned a corner and is exiting this very challenging environment. Sales continue to improve month over month, and we are seeing strong order patterns in our core legacy businesses so far in the fourth quarter. The sustainability actions taken earlier this year have had a favorable impact on our ability to achieve cash-flow break-even on lower than normal revenue levels as demonstrated in year over year third quarter performance.”.
A sum of 471646 shares traded at recent session while its average daily volume was at 21.34K shares. IKONICS Corporation shares reached a high of $16.00 and dropped to a low of $10.704 until finishing in the latest session at $11.13.
Guru’s Opinion on IKONICS Corporation [IKNX]:
The Average True Range (ATR) for IKONICS Corporation is set at 1.31, with the Price to Sales ratio for IKNX stock in the period of the last 12 months amounting to 1.45. The Price to Book ratio for the last quarter was 2.12, with the Price to Cash per share for the same quarter was set at 1.89.
IKNX Stock Performance Analysis:
IKONICS Corporation [IKNX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.05. With this latest performance, IKNX shares gained by 79.73% in over the last four-week period, additionally plugging by 236.09% over the last 6 months – not to mention a rise of 114.76% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IKNX stock in for the last two-week period is set at 70.63, with the RSI for the last a single of trading hit 70.39, and the three-weeks RSI is set at 70.60 for IKONICS Corporation [IKNX]. The present Moving Average for the last 50 days of trading for this stock 6.61, while it was recorded at 10.47 for the last single week of trading, and 4.30 for the last 200 days.
Insight into IKONICS Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and IKONICS Corporation [IKNX] shares currently have an operating margin of -4.90 and a Gross Margin at +30.63. IKONICS Corporation’s Net Margin is presently recorded at -4.62.
Return on Total Capital for IKNX is now -5.55, given the latest momentum, and Return on Invested Capital for the company is -5.27. Return on Equity for this stock declined to -6.41, with Return on Assets sitting at -4.74. When it comes to the capital structure of this company, IKONICS Corporation [IKNX] has a Total Debt to Total Equity ratio set at 23.02. Additionally, IKNX Total Debt to Total Capital is recorded at 18.71, with Total Debt to Total Assets ending up at 16.72. Long-Term Debt to Equity for the company is recorded at 21.93, with the Long-Term Debt to Total Capital now at 17.83.
Reflecting on the efficiency of the workforce at the company, IKONICS Corporation [IKNX] managed to generate an average of -$9,921 per employee. Receivables Turnover for the company is 7.57 with a Total Asset Turnover recorded at a value of 1.03.IKONICS Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.
IKONICS Corporation [IKNX] Insider Position Details
There are presently around $0 million, or 0.30% of IKNX stock, in the hands of institutional investors. The top three institutional holders of IKNX stocks are: US BANCORP DE with ownership of 3,000, which is approximately 0% of the company’s market cap and around 21.30% of the total institutional ownership; ROYAL BANK OF CANADA, holding 1,301 shares of the stock with an approximate value of $14000.0 in IKNX stocks shares; and MORGAN STANLEY, currently with $8000.0 in IKNX stock with ownership of nearly -72% of the company’s market capitalization.
Positions in IKONICS Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 1 institutional holders increased their position in IKONICS Corporation [NASDAQ:IKNX] by around 226 shares. Additionally, 6 investors decreased positions by around 5,626 shares, while 2 investors held positions by with 374 shares. The mentioned changes placed institutional holdings at 5,478 shares, according to the latest SEC report filing. IKNX stock had 1 new institutional investments in for a total of 226 shares, while 2 institutional investors sold positions of 3,127 shares during the same period.