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Nikola (NKLA) Stock Sinks As Market Gains: What You Should Know
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Nikola (NKLA - Free Report) closed at $2.13 in the latest trading session, marking a -0.47% move from the prior day. This change lagged the S&P 500's 2.28% gain on the day. Meanwhile, the Dow gained 2.13%, and the Nasdaq, a tech-heavy index, added 5.02%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 10.08% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 20.56% and lagged the S&P 500's loss of 4.61% in that time.
Nikola will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nikola to post earnings of -$0.46 per share. This would mark a year-over-year decline of 100%.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nikola is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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) Stock Sinks As Market Gains: What You Should Know
Nikola (NKLA - Free Report) closed at $2.13 in the latest trading session, marking a -0.47% move from the prior day. This change lagged the S&P 500's 2.28% gain on the day. Meanwhile, the Dow gained 2.13%, and the Nasdaq, a tech-heavy index, added 5.02%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 10.08% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 20.56% and lagged the S&P 500's loss of 4.61% in that time.
Nikola will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nikola to post earnings of -$0.46 per share. This would mark a year-over-year decline of 100%.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nikola is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.