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Nikola (NKLA) Suffers a Larger Drop Than the General Market: Key Insights
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Nikola (NKLA - Free Report) closed the latest trading day at $0.87, indicating a -1.38% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 8.78% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 3.74% and the S&P 500's gain of 5.24% in that time.
The investment community will be closely monitoring the performance of Nikola in its forthcoming earnings report. The company is predicted to post an EPS of -$0.14, indicating a 62.16% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.67 million, up 123.63% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.90 per share and a revenue of $39.44 million, signifying shifts of +18.92% and -22.41%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nikola. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Nikola presently features a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 156, placing it within the bottom 39% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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) Suffers a Larger Drop Than the General Market: Key Insights
Nikola (NKLA - Free Report) closed the latest trading day at $0.87, indicating a -1.38% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 8.78% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 3.74% and the S&P 500's gain of 5.24% in that time.
The investment community will be closely monitoring the performance of Nikola in its forthcoming earnings report. The company is predicted to post an EPS of -$0.14, indicating a 62.16% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.67 million, up 123.63% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.90 per share and a revenue of $39.44 million, signifying shifts of +18.92% and -22.41%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nikola. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Nikola presently features a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 156, placing it within the bottom 39% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.