NIO Inc. (NIO) Increases Yet Falls Behind Market: What Investors Need to Know
NIO Inc. (NIO) closed at $5.78 in the latest trading session, marking a +0.52% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.8%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq added 1.14%.
Prior to today's trading, shares of the company had gained 0.7% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 11.46% and the S&P 500's gain of 5.2% in that time.
Market participants will be closely following the financial results of NIO Inc. in its upcoming release. The company plans to announce its earnings on March 5, 2024. The company is predicted to post an EPS of -$0.51, indicating constancy compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.29 billion, showing a 1.86% drop compared to the year-ago quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for NIO Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.25% increase. Right now, NIO Inc. possesses a Zacks Rank of #2 (Buy).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 59, placing it within the top 24% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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NIO Inc. (NIO) : Free Stock Analysis Report
