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Nikola (NKLA) Flat As Market Sinks: What You Should Know
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Nikola (NKLA - Free Report) closed at $2.51 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 1.57% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 22.3% and the S&P 500's gain of 3.6% in that time.
Investors will be hoping for strength from Nikola as it approaches its next earnings release, which is expected to be February 23, 2023. The company is expected to report EPS of -$0.46, down 100% 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.4% higher within the past month. Nikola is currently sporting a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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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Nikola (NKLA) Flat As Market Sinks: What You Should Know
Nikola (NKLA - Free Report) closed at $2.51 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 1.57% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 22.3% and the S&P 500's gain of 3.6% in that time.
Investors will be hoping for strength from Nikola as it approaches its next earnings release, which is expected to be February 23, 2023. The company is expected to report EPS of -$0.46, down 100% 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.4% higher within the past month. Nikola is currently sporting a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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.