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Nikola (NKLA) Stock Sinks As Market Gains: What You Should Know

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Nikola (NKLA - Free Report) closed the most recent trading day at $11.35, moving -0.09% from the previous trading session. This change lagged the S&P 500's 0.3% gain on the day.

Heading into today, shares of the pioneer in zero-emission trucks had gained 14.63% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 1.93% and the S&P 500's loss of 2.37% in that time.

Wall Street will be looking for positivity from NKLA as it approaches its next earnings report date. This is expected to be November 4, 2021. In that report, analysts expect NKLA to post earnings of -$0.26 per share. This would mark year-over-year growth of 16.13%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.88 per share and revenue of $4.63 million. These totals would mark changes of -41.94% and +4768.93%, respectively, from last year.

Investors might also notice 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 is currently sporting a Zacks Rank of #2 (Buy).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 26% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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