Nikola (NKLA) closed the most recent trading day at $0.91, moving +0.72% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.57%. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq lost 1.04%.
Prior to today's trading, shares of the pioneer in zero-emission trucks had lost 50.17% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 5.71% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from Nikola as it approaches its next earnings release. The company is expected to report EPS of -$0.15, up 46.43% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $16.02 million, down 33.9% from the prior-year quarter.
NKLA's full-year Zacks Consensus Estimates are calling for earnings of -$0.71 per share and revenue of $103.4 million. These results would represent year-over-year changes of +36.04% and +103.43%, respectively.
It is also important to note the recent changes to analyst estimates for Nikola. These revisions help to show the ever-changing nature 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.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.42% higher. Nikola is currently sporting a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nikola Corporation (NKLA): Free Stock Analysis Report