NIO Inc. (NIO) closed the most recent trading day at $10.03, moving -1.57% from the previous trading session. This move was narrower than the S&P 500’s daily loss of 2%. Elsewhere, the Dow lost 2.06%, while the tech-heavy Nasdaq lost 2.32%.
Prior to today’s trading, shares of the company had lost 15.51% over the past month. This has lagged the Auto-Tires-Trucks sector’s gain of 23.75% and the S&P 500’s gain of 2.88% in that time.
NIO Inc. will be looking to display strength as it nears its next earnings release, which is expected to be March 1, 2023.
Investors should also note any recent changes to analyst estimates for NIO Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 14.15% lower within the past month. NIO Inc. is currently sporting a Zacks Rank of #4 (Sell).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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.
To follow NIO in the coming trading sessions, be sure to utilize Zacks.com.
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NIO Inc. (NIO) : Free Stock Analysis Report