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Nikola (NKLA) Outpaces Stock Market Gains: What You Should Know
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Nikola (NKLA - Free Report) closed the most recent trading day at $2.55, moving +1.59% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Heading into today, shares of the pioneer in zero-emission trucks had gained 17.84% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 10.31% and the S&P 500's loss of 0.01% 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 -$0.46 per share, which would represent a year-over-year decline of 100%.
Investors should also note any recent changes to analyst estimates for Nikola. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Nikola is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 203, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nikola (NKLA) Outpaces Stock Market Gains: What You Should Know
Nikola (NKLA - Free Report) closed the most recent trading day at $2.55, moving +1.59% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Heading into today, shares of the pioneer in zero-emission trucks had gained 17.84% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 10.31% and the S&P 500's loss of 0.01% 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 -$0.46 per share, which would represent a year-over-year decline of 100%.
Investors should also note any recent changes to analyst estimates for Nikola. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Nikola is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 203, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.