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Nikola (NKLA) Outpaces Stock Market Gains: What You Should Know
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Nikola (NKLA - Free Report) closed the most recent trading day at $8.25, moving +1.48% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.12%. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Coming into today, shares of the pioneer in zero-emission trucks had gained 11.22% in the past month. In that same time, the Auto-Tires-Trucks sector gained 12.63%, while the S&P 500 gained 4.63%.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. This is expected to be May 5, 2022. In that report, analysts expect Nikola to post earnings of -$0.27 per share. This would mark a year-over-year decline of 92.86%.
Investors might also notice recent changes to analyst estimates 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 17.5% lower. 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 177, which puts it in the bottom 31% 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.
To follow NKLA in the coming trading sessions, be sure to utilize Zacks.com.
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Nikola (NKLA) Outpaces Stock Market Gains: What You Should Know
Nikola (NKLA - Free Report) closed the most recent trading day at $8.25, moving +1.48% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.12%. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Coming into today, shares of the pioneer in zero-emission trucks had gained 11.22% in the past month. In that same time, the Auto-Tires-Trucks sector gained 12.63%, while the S&P 500 gained 4.63%.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. This is expected to be May 5, 2022. In that report, analysts expect Nikola to post earnings of -$0.27 per share. This would mark a year-over-year decline of 92.86%.
Investors might also notice recent changes to analyst estimates 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 17.5% lower. 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 177, which puts it in the bottom 31% 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.
To follow NKLA in the coming trading sessions, be sure to utilize Zacks.com.