NIO Inc. (NIO) Dips More Than Broader Markets: What You Should Know
NIO Inc. (NIO) closed at $45.60 in the latest trading session, marking a -0.96% move from the prior day. This move lagged the S&P 500's daily loss of 0.86%.
Heading into today, shares of the company had gained 7.72% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 1.95% and the S&P 500's gain of 3.22% in that time.
Investors will be hoping for strength from NIO as it approaches its next earnings release.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.65 per share and revenue of $5.19 billion, which would represent changes of +1.52% and +115.7%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NIO. 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.
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 remained stagnant within the past month. NIO is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% 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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