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Nikola (NKLA) Stock Moves -0.69%: What You Should Know
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Nikola (NKLA - Free Report) closed at $2.88 in the latest trading session, marking a -0.69% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.8%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Coming into today, shares of the pioneer in zero-emission trucks had lost 33.79% in the past month. In that same time, the Auto-Tires-Trucks sector lost 20.72%, while the S&P 500 lost 5.13%.
Investors will be hoping for strength from Nikola as it approaches its next earnings release, which 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%.
Investors should also note any recent changes to analyst estimates for Nikola. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.79% lower. Nikola currently has a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 42% 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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Nikola (NKLA) Stock Moves -0.69%: What You Should Know
Nikola (NKLA - Free Report) closed at $2.88 in the latest trading session, marking a -0.69% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.8%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Coming into today, shares of the pioneer in zero-emission trucks had lost 33.79% in the past month. In that same time, the Auto-Tires-Trucks sector lost 20.72%, while the S&P 500 lost 5.13%.
Investors will be hoping for strength from Nikola as it approaches its next earnings release, which 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%.
Investors should also note any recent changes to analyst estimates for Nikola. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.79% lower. Nikola currently has a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 42% 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.