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Nikola Corporation (NKLA) Gains As Market Dips: What You Should Know
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In the latest trading session, Nikola Corporation (NKLA - Free Report) closed at $33.28, marking a +1.37% move from the previous day. This move outpaced the S&P 500's daily loss of 0.46%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 1.25%.
Coming into today, shares of the company had lost 21.38% in the past month. In that same time, the Auto-Tires-Trucks sector gained 12.86%, while the S&P 500 gained 1%.
Investors will be hoping for strength from NKLA as it approaches its next earnings release.
It is also important to note the recent changes to analyst estimates for NKLA. 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. The Zacks Consensus EPS estimate has moved 4.67% lower within the past month. NKLA 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 52, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Corporation (NKLA) Gains As Market Dips: What You Should Know
In the latest trading session, Nikola Corporation (NKLA - Free Report) closed at $33.28, marking a +1.37% move from the previous day. This move outpaced the S&P 500's daily loss of 0.46%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 1.25%.
Coming into today, shares of the company had lost 21.38% in the past month. In that same time, the Auto-Tires-Trucks sector gained 12.86%, while the S&P 500 gained 1%.
Investors will be hoping for strength from NKLA as it approaches its next earnings release.
It is also important to note the recent changes to analyst estimates for NKLA. 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. The Zacks Consensus EPS estimate has moved 4.67% lower within the past month. NKLA 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 52, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.