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Nikola (NKLA) Dips More Than Broader Markets: What You Should Know

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Nikola (NKLA - Free Report) closed at $16.13 in the latest trading session, marking a -1.68% move from the prior day. This change lagged the S&P 500's 0.22% loss on the day. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq lost 0.38%.

Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 19.62% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 4.34% and the S&P 500's gain of 2.78% in that time.

Investors will be hoping for strength from NKLA as it approaches its next earnings release.

Investors should also note any recent changes to analyst estimates for NKLA. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. NKLA 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 18, putting it in the top 8% 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.

To follow NKLA in the coming trading sessions, be sure to utilize Zacks.com.


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