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Nikola (NKLA) Stock Moves -0.33%: What You Should Know

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Nikola (NKLA - Free Report) closed the most recent trading day at $2.99, moving -0.33% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.65%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq added 0.18%.

Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 44.34% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 20.5% and the S&P 500's loss of 11.07% in that time.

Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. This is expected to be November 3, 2022. The company is expected to report EPS of -$0.39, down 77.27% from the prior-year quarter.

Any recent changes to analyst estimates for Nikola should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nikola is holding a Zacks Rank of #3 (Hold) right now.

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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