Yahoo Finance Nikola (NKLA) Stock Slides as Market Rises: Facts to Know Before You Trade
Nikola (NKLA) ended the recent trading session at $0.50, demonstrating a -0.16% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.26%. On the other hand, the Dow registered a gain of 0.18%, and the technology-centric Nasdaq increased by 0.35%.
Coming into today, shares of the pioneer in zero-emission trucks had lost 7.65% in the past month. In that same time, the Auto-Tires-Trucks sector lost 3.63%, while the S&P 500 gained 3.25%.
The investment community will be paying close attention to the earnings performance of Nikola in its upcoming release. The company's upcoming EPS is projected at -$0.09, signifying a 55% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $21.58 million, indicating a 40.5% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.37 per share and revenue of $117.75 million, indicating changes of +53.16% and +224.57%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Nikola. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 11.36% higher within the past month. 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 56, placing it within the top 23% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nikola Corporation (NKLA) : Free Stock Analysis Report
