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Nikola (NKLA) Stock Drops Despite Market Gains: Important Facts to Note
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The latest trading session saw Nikola (NKLA - Free Report) ending at $0.65, denoting a -0.06% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Heading into today, shares of the pioneer in zero-emission trucks had lost 26.38% over the past month, lagging the Auto-Tires-Trucks sector's loss of 7.68% and the S&P 500's gain of 1.61% in that time.
The upcoming earnings release of Nikola will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.16, marking a 56.76% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.52 million, up 121.27% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nikola. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.79% decrease. 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 177, putting it in the bottom 30% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Nikola (NKLA) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw Nikola (NKLA - Free Report) ending at $0.65, denoting a -0.06% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Heading into today, shares of the pioneer in zero-emission trucks had lost 26.38% over the past month, lagging the Auto-Tires-Trucks sector's loss of 7.68% and the S&P 500's gain of 1.61% in that time.
The upcoming earnings release of Nikola will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.16, marking a 56.76% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.52 million, up 121.27% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nikola. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.79% decrease. 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 177, putting it in the bottom 30% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.