NIO Inc. (NIO) closed the most recent trading day at $19.92, moving -0.8% from the previous trading session. This change was narrower than the S&P 500's daily loss of 3.37%. Meanwhile, the Dow lost 3.03%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Coming into today, shares of the company had gained 3.03% in the past month. In that same time, the Auto-Tires-Trucks sector lost 28.74%, while the S&P 500 gained 6.05%.
Wall Street will be looking for positivity from NIO Inc. as it approaches its next earnings report date.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.63 per share and revenue of $9.1 billion, which would represent changes of +40% and +62.46%, respectively, from the prior year.
Any recent changes to analyst estimates for NIO Inc. should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. NIO Inc. currently has a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 131, putting it in the bottom 49% 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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