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Nikola (NKLA) Gains But Lags Market: What You Should Know
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Nikola (NKLA - Free Report) closed the most recent trading day at $5.64, moving +0.71% from the previous trading session. This change lagged the S&P 500's 2.76% gain on the day. Meanwhile, the Dow gained 2.43%, and the Nasdaq, a tech-heavy index, added 0.25%.
Coming into today, shares of the pioneer in zero-emission trucks had lost 1.41% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.65%, while the S&P 500 gained 4.44%.
Nikola will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. On that day, Nikola is projected to report earnings of -$0.27 per share, which would represent a year-over-year decline of 35%.
Investors should also note any recent changes to analyst estimates for Nikola. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 remained stagnant. Nikola is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nikola (NKLA) Gains But Lags Market: What You Should Know
Nikola (NKLA - Free Report) closed the most recent trading day at $5.64, moving +0.71% from the previous trading session. This change lagged the S&P 500's 2.76% gain on the day. Meanwhile, the Dow gained 2.43%, and the Nasdaq, a tech-heavy index, added 0.25%.
Coming into today, shares of the pioneer in zero-emission trucks had lost 1.41% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.65%, while the S&P 500 gained 4.44%.
Nikola will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. On that day, Nikola is projected to report earnings of -$0.27 per share, which would represent a year-over-year decline of 35%.
Investors should also note any recent changes to analyst estimates for Nikola. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 remained stagnant. Nikola is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.