NIO Inc. (NIO) closed the latest trading day at $5.71, indicating a +1.6% change from the previous session’s end. This change outpaced the S&P 500’s 1.25% gain on the day. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 1.3%.
The company’s shares have seen a decrease of 33.88% over the last month, not keeping up with the Auto-Tires-Trucks sector’s loss of 11.14% and the S&P 500’s gain of 1.58%.
Investors will be eagerly watching for the performance of NIO Inc. in its upcoming earnings disclosure. The company’s earnings per share (EPS) are projected to be -$0.51, reflecting no change from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.29 billion, down 1.86% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for NIO Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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 shifted 18.58% upward. NIO Inc. presently features a Zacks Rank of #2 (Buy).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 65, finds itself in the top 26% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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