NIO Inc. (NIO) Stock Sinks As Market Gains: What You Should Know
NIO Inc. (NIO) closed at $16.44 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily gain of 0.02%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, lost 0.16%.
Coming into today, shares of the company had lost 2.86% in the past month. In that same time, the Auto-Tires-Trucks sector lost 21.32%, while the S&P 500 lost 12.5%.
Wall Street will be looking for positivity from NIO Inc. as it approaches its next earnings report date.
NIO's full-year Zacks Consensus Estimates are calling for earnings of -$0.63 per share and revenue of $9.84 billion. These results would represent year-over-year changes of +40% and +75.61%, respectively.
Any recent changes to analyst estimates for NIO Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 4.55% higher. NIO Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 207, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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