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Nikola (NKLA) Stock Moves -0.44%: What You Should Know

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Nikola (NKLA - Free Report) closed the most recent trading day at $4.56, moving -0.44% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.13%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 0.13%.

Heading into today, shares of the pioneer in zero-emission trucks had lost 16.58% over the past month, lagging the Auto-Tires-Trucks sector's loss of 0.97% and the S&P 500's loss of 7.59% in that time.

Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. On that day, Nikola is projected to report earnings of -$0.39 per share, which would represent a year-over-year decline of 77.27%.

Any recent changes to analyst estimates for Nikola should also be noted by investors. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nikola 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 78, putting it in the top 31% 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.

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


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