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Nikola (NKLA) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Nikola (NKLA - Free Report) closed at $1.37, marking a -0.72% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.14%.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.21 million, down 16.11% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.85 per share and revenue of $150.61 million. These totals would mark changes of +23.42% and +196.34%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nikola. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Nikola is currently a Zacks Rank #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Nikola (NKLA - Free Report) closed at $1.37, marking a -0.72% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.14%.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.21 million, down 16.11% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.85 per share and revenue of $150.61 million. These totals would mark changes of +23.42% and +196.34%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nikola. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Nikola is currently a Zacks Rank #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.