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

Zacks Equity Research
·2 min read

In the latest trading session, Nikola (NKLA) closed at $16.03, marking a -0.31% move from the previous day. This move lagged the S&P 500's daily gain of 0.71%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 0.95%.

Heading into today, shares of the pioneer in zero-emission trucks had lost 12.8% over the past month, lagging the Auto-Tires-Trucks sector's gain of 7.14% and the S&P 500's gain of 0.17% 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 recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 0.35% lower. 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 121, which puts it in the top 48% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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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