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Nikola (NKLA) Stock Moves -0.35%: What You Should Know

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Nikola (NKLA) closed the most recent trading day at $5.75, moving -0.35% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.15%. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.13%.

Heading into today, shares of the pioneer in zero-emission trucks had gained 7.05% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 2.1% and the S&P 500's gain of 1.44% in that time.

Nikola will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. The company is expected to report EPS of -$0.27, down 35% from the prior-year quarter.

Any recent changes to analyst estimates for Nikola should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% lower. Nikola is holding a Zacks Rank of #3 (Hold) right now.

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% 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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