Yahoo Finance Nikola (NKLA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Nikola (NKLA) ended the recent trading session at $0.35, demonstrating a -1.82% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.31%. Meanwhile, the Dow experienced a rise of 0.67%, and the technology-dominated Nasdaq saw a decrease of 1.09%.
Shares of the pioneer in zero-emission trucks have depreciated by 32.19% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 4.91% and the S&P 500's gain of 2.73%.
Investors will be eagerly watching for the performance of Nikola in its upcoming earnings disclosure. In that report, analysts expect Nikola to post earnings of -$0.09 per share. This would mark year-over-year growth of 55%. In the meantime, our current consensus estimate forecasts the revenue to be $21.58 million, indicating a 40.5% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.37 per share and a revenue of $117.75 million, demonstrating changes of +53.16% and +224.57%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Nikola. Such recent modifications usually signify the changing landscape 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Nikola boasts a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 34, placing it within the top 14% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Nikola Corporation (NKLA) : Free Stock Analysis Report
