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Nikola (NKLA) Dips More Than Broader Markets: What You Should Know
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Nikola (NKLA - Free Report) closed the most recent trading day at $21.72, moving -1% from the previous trading session. This change lagged the S&P 500's daily loss of 0.03%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, lost 0.58%.
Coming into today, shares of the pioneer in zero-emission trucks had gained 10.59% in the past month. In that same time, the Auto-Tires-Trucks sector gained 1.33%, while the S&P 500 gained 4.45%.
Investors will be hoping for strength from NKLA as it approaches its next earnings release, which is expected to be February 25, 2021.
Investors should also note any recent changes to analyst estimates for NKLA. These revisions help to show the ever-changing nature of near-term business trends. 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. 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.
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 remained stagnant within the past month. NKLA currently has a Zacks Rank of #5 (Strong Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow NKLA in the coming trading sessions, be sure to utilize Zacks.com.
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Nikola (NKLA) Dips More Than Broader Markets: What You Should Know
Nikola (NKLA - Free Report) closed the most recent trading day at $21.72, moving -1% from the previous trading session. This change lagged the S&P 500's daily loss of 0.03%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, lost 0.58%.
Coming into today, shares of the pioneer in zero-emission trucks had gained 10.59% in the past month. In that same time, the Auto-Tires-Trucks sector gained 1.33%, while the S&P 500 gained 4.45%.
Investors will be hoping for strength from NKLA as it approaches its next earnings release, which is expected to be February 25, 2021.
Investors should also note any recent changes to analyst estimates for NKLA. These revisions help to show the ever-changing nature of near-term business trends. 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. 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.
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 remained stagnant within the past month. NKLA currently has a Zacks Rank of #5 (Strong Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow NKLA in the coming trading sessions, be sure to utilize Zacks.com.