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Nikola (NKLA) Gains As Market Dips: What You Should Know
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Nikola (NKLA - Free Report) closed at $10.33 in the latest trading session, marking a +0.88% move from the prior day. This move outpaced the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the pioneer in zero-emission trucks had gained 3.64% over the past month, lagging the Auto-Tires-Trucks sector's gain of 9.8% and the S&P 500's gain of 5.76% in that time.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. The company is expected to report EPS of -$0.29, down 70.59% from the prior-year quarter.
Any recent changes to analyst estimates for Nikola should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Nikola currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 21% 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.
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) Gains As Market Dips: What You Should Know
Nikola (NKLA - Free Report) closed at $10.33 in the latest trading session, marking a +0.88% move from the prior day. This move outpaced the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the pioneer in zero-emission trucks had gained 3.64% over the past month, lagging the Auto-Tires-Trucks sector's gain of 9.8% and the S&P 500's gain of 5.76% in that time.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. The company is expected to report EPS of -$0.29, down 70.59% from the prior-year quarter.
Any recent changes to analyst estimates for Nikola should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Nikola currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 21% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.