In the latest trading session, Nikola (NKLA) closed at $7.39, marking a -0.94% move from the previous day. This change lagged the S&P 500's daily gain of 2.48%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the pioneer in zero-emission trucks had lost 32.91% in the past month. In that same time, the Auto-Tires-Trucks sector lost 11.55%, while the S&P 500 lost 7.81%.
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. The company is expected to report EPS of -$0.27, down 92.86% from the prior-year quarter.
Any recent changes to analyst estimates for Nikola should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 17.5% lower. Nikola currently has a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Corporation (NKLA): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
