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Nikola (NKLA) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, Nikola (NKLA) closed at $17.22, marking a +1.29% move from the previous day. This move outpaced the S&P 500's daily gain of 0.58%. At the same time, the Dow added 0.49%, and the tech-heavy Nasdaq gained 0.84%.

Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 33.12% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 20.12% and the S&P 500's gain of 2.12% in that time.

Wall Street will be looking for positivity from NKLA as it approaches its next earnings report date.

Any recent changes to analyst estimates for NKLA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant. NKLA currently has a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 15% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Zacks Investment Research