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Nikola (NKLA) Stock Moves -1.29%: What You Should Know

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Nikola (NKLA - Free Report) closed at $3.06 in the latest trading session, marking a -1.29% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.37%. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 0.24%.

Heading into today, shares of the pioneer in zero-emission trucks had lost 40.61% over the past month, lagging the Auto-Tires-Trucks sector's loss of 18.38% and the S&P 500's loss of 6.51% 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. On that day, Nikola is projected to report earnings of -$0.39 per share, which would represent a year-over-year decline of 77.27%.

Any recent changes to analyst estimates for Nikola should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 currently sporting a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 137, which puts it in the bottom 46% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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