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Nikola (NKLA) Stock Dips While Market Gains: Key Facts

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The most recent trading session ended with Nikola (NKLA - Free Report) standing at $1, reflecting a -0.99% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.15%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.32%.

The pioneer in zero-emission trucks's shares have seen an increase of 52.54% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 0.39% and the S&P 500's gain of 1.65%.

The upcoming earnings release of Nikola will be of great interest to investors. The company's earnings report is expected on May 7, 2024. The company is predicted to post an EPS of -$0.09, indicating a 65.38% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $19.68 million, up 76.95% from the year-ago period.

NKLA's full-year Zacks Consensus Estimates are calling for earnings of -$0.42 per share and revenue of $192.43 million. These results would represent year-over-year changes of +46.84% and +430.41%, respectively.

Any recent changes to analyst estimates for Nikola should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Nikola presently features a Zacks Rank of #2 (Buy).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 37% of over 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


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