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Nikola (NKLA) Stock Sinks As Market Gains: What You Should Know
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Nikola (NKLA - Free Report) closed at $2.66 in the latest trading session, marking a -1.85% move from the prior day. This change lagged the S&P 500's daily gain of 1.05%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 9.7%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had gained 22.07% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 17.96% and the S&P 500's gain of 6.27% in that time.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. This is expected to be February 23, 2023. In that report, analysts expect Nikola to post earnings of -$0.46 per share. This would mark a year-over-year decline of 100%.
Any recent changes to analyst estimates for Nikola should also be noted by investors. 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.
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 has moved 1.4% higher. Nikola is holding a Zacks Rank of #2 (Buy) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% 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) Stock Sinks As Market Gains: What You Should Know
Nikola (NKLA - Free Report) closed at $2.66 in the latest trading session, marking a -1.85% move from the prior day. This change lagged the S&P 500's daily gain of 1.05%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 9.7%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had gained 22.07% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 17.96% and the S&P 500's gain of 6.27% in that time.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. This is expected to be February 23, 2023. In that report, analysts expect Nikola to post earnings of -$0.46 per share. This would mark a year-over-year decline of 100%.
Any recent changes to analyst estimates for Nikola should also be noted by investors. 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.
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 has moved 1.4% higher. Nikola is holding a Zacks Rank of #2 (Buy) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% 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.