In the latest trading session, Nikola (NKLA) closed at $24.42, marking a -0.04% move from the previous day. This move lagged the S&P 500's daily gain of 1.09%. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 1.23%.Wall Street will be looking for positivity from NKLA as it approaches its next earnings report date. This is expected to be February 25, 2021.It is also important to note the recent changes to analyst estimates for NKLA. 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. 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. Within the past 30 days, our consensus EPS projection has moved 5.57% lower. NKLA currently has a Zacks Rank of #5 (Strong Sell).The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nikola Corporation (NKLA): Free Stock Analysis Report To read this article on Zacks.com click here.