NIO Inc. (NIO) closed at $10.31 in the latest trading session, marking no change from the prior day. This move lagged the S&P 500’s daily gain of 1.15%. Elsewhere, the Dow gained 1.11%, while the tech-heavy Nasdaq added 11.35%.
Heading into today, shares of the company had lost 12.63% over the past month, lagging the Auto-Tires-Trucks sector’s gain of 23.52% and the S&P 500’s gain of 4.49% in that time.
Investors will be hoping for strength from NIO Inc. as it approaches its next earnings release.
Any recent changes to analyst estimates for NIO Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.44% lower. NIO Inc. currently has a Zacks Rank of #4 (Sell).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.
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NIO Inc. (NIO) : Free Stock Analysis Report