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Nikola (NKLA - Free Report) closed the most recent trading day at $0.72, moving +1.59% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.57%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq increased by 1.25%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 3.67% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 6.06% and lagged the S&P 500's gain of 5.07% in that time.
Market participants will be closely following the financial results of Nikola in its upcoming release. The company plans to announce its earnings on February 22, 2024. It is anticipated that the company will report an EPS of -$0.16, marking a 56.76% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $14.52 million, indicating a 121.27% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Nikola. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.79% downward. Nikola is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 115, which puts it in the top 46% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Nikola (NKLA) Rises Higher Than Market: Key Facts
Nikola (NKLA - Free Report) closed the most recent trading day at $0.72, moving +1.59% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.57%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq increased by 1.25%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 3.67% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 6.06% and lagged the S&P 500's gain of 5.07% in that time.
Market participants will be closely following the financial results of Nikola in its upcoming release. The company plans to announce its earnings on February 22, 2024. It is anticipated that the company will report an EPS of -$0.16, marking a 56.76% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $14.52 million, indicating a 121.27% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Nikola. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.79% downward. Nikola is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 115, which puts it in the top 46% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.