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Nikola (NKLA) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Nikola (NKLA - Free Report) closed at $8.85, marking a -0.23% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the pioneer in zero-emission trucks had gained 11.99% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.24%, while the S&P 500 gained 2.67%.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. The company is expected to report EPS of -$0.23, down 64.29% from the prior-year quarter.
Any recent changes to analyst estimates for Nikola should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.54% higher. Nikola currently has 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 113, which puts it in the top 45% 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 (NKLA) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Nikola (NKLA - Free Report) closed at $8.85, marking a -0.23% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the pioneer in zero-emission trucks had gained 11.99% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.24%, while the S&P 500 gained 2.67%.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. The company is expected to report EPS of -$0.23, down 64.29% from the prior-year quarter.
Any recent changes to analyst estimates for Nikola should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.54% higher. Nikola currently has 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 113, which puts it in the top 45% 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.