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Nikola (NKLA) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Nikola (NKLA - Free Report) closed at $2.95, marking a -1.99% move from the previous day. This move lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Coming into today, shares of the pioneer in zero-emission trucks had lost 22.62% in the past month. In that same time, the Auto-Tires-Trucks sector lost 18.14%, while the S&P 500 lost 0.84%.
Investors will be hoping for strength from Nikola as it approaches its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Nikola to post earnings of -$0.39 per share. This would mark a year-over-year decline of 77.27%.
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. 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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.79% lower within the past month. Nikola is holding a Zacks Rank of #4 (Sell) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Nikola (NKLA - Free Report) closed at $2.95, marking a -1.99% move from the previous day. This move lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Coming into today, shares of the pioneer in zero-emission trucks had lost 22.62% in the past month. In that same time, the Auto-Tires-Trucks sector lost 18.14%, while the S&P 500 lost 0.84%.
Investors will be hoping for strength from Nikola as it approaches its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Nikola to post earnings of -$0.39 per share. This would mark a year-over-year decline of 77.27%.
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. 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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.79% lower within the past month. Nikola is holding a Zacks Rank of #4 (Sell) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% 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.