NIO Inc. (NIO) Laps the Stock Market: Here's Why
NIO Inc. (NIO) closed at $5.97 in the latest trading session, marking a +0.17% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 0.32%.
Coming into today, shares of the company had lost 4.03% in the past month. In that same time, the Auto-Tires-Trucks sector gained 1.7%, while the S&P 500 gained 2.99%.
The investment community will be paying close attention to the earnings performance of NIO Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.51, signifying steadiness compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.29 billion, down 1.86% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for NIO Inc. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.25% higher. NIO Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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NIO Inc. (NIO) : Free Stock Analysis Report
