NIO Inc. (NIO) Rises Higher Than Market: Key Facts
In the latest trading session, NIO Inc. (NIO) closed at $6.09, marking a +1.5% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.58%. Meanwhile, the Dow experienced a rise of 0.91%, and the technology-dominated Nasdaq saw an increase of 0.3%.
Heading into today, shares of the company had lost 4.76% over the past month, lagging the Auto-Tires-Trucks sector's loss of 1.49% and the S&P 500's gain of 4.61% in that time.
Investors will be eagerly watching for the performance of NIO Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.51, signifying steadiness compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.29 billion, down 1.86% from the year-ago period.
Any recent changes to analyst estimates for NIO Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.22% upward. As of now, NIO Inc. holds 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 104, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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
