NIO Inc. (NIO) closed at $9.71 in the latest trading session, marking a +0.41% move from the prior day. This change outpaced the S&P 500’s 0.41% loss on the day. Elsewhere, the Dow lost 0.24%, while the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the company had lost 37.57% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4%, while the S&P 500 gained 8.12%.
Investors will be hoping for strength from NIO Inc. as it approaches its next earnings release, which is expected to be November 10, 2022.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.69 per share and revenue of $8.19 billion, which would represent changes of +34.29% and +46.12%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NIO Inc.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. 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.
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. The Zacks Consensus EPS estimate has moved 13.63% higher within the past month. NIO Inc. is currently a Zacks Rank #3 (Hold).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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