NIO Inc. (NIO) Gains But Lags Market: What You Should Know
NIO Inc. (NIO) closed the most recent trading day at $12.07, moving +0.42% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.46%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 6.63%.
Heading into today, shares of the company had gained 23.28% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 14.47% and the S&P 500's gain of 4.75% in that time.
NIO Inc. will be looking to display strength as it nears its next earnings release.
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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.38% lower. 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 50, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
