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Nikola (NKLA) Flat As Market Sinks: What You Should Know
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Nikola (NKLA - Free Report) closed the most recent trading day at $0.91, making no change from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.6%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 2.87%.
Heading into today, shares of the pioneer in zero-emission trucks had lost 39.74% over the past month, lagging the Auto-Tires-Trucks sector's gain of 12.88% and the S&P 500's gain of 6.22% in that time.
Investors will be hoping for strength from Nikola as it approaches its next earnings release, which is expected to be May 9, 2023. In that report, analysts expect Nikola to post earnings of -$0.28 per share. This would mark a year-over-year decline of 33.33%. Our most recent consensus estimate is calling for quarterly revenue of $16.25 million, up 759.58% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.01 per share and revenue of $238.13 million. These totals would mark changes of +9.01% and +368.53%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Nikola. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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) Flat As Market Sinks: What You Should Know
Nikola (NKLA - Free Report) closed the most recent trading day at $0.91, making no change from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.6%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 2.87%.
Heading into today, shares of the pioneer in zero-emission trucks had lost 39.74% over the past month, lagging the Auto-Tires-Trucks sector's gain of 12.88% and the S&P 500's gain of 6.22% in that time.
Investors will be hoping for strength from Nikola as it approaches its next earnings release, which is expected to be May 9, 2023. In that report, analysts expect Nikola to post earnings of -$0.28 per share. This would mark a year-over-year decline of 33.33%. Our most recent consensus estimate is calling for quarterly revenue of $16.25 million, up 759.58% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.01 per share and revenue of $238.13 million. These totals would mark changes of +9.01% and +368.53%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Nikola. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.