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NIO Inc. (NIO) Stock Sinks As Market Gains: What You Should Know

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Zacks Equity Research
·2 min read
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In the latest trading session, NIO Inc. (NIO) closed at $56.99, marking a -0.02% move from the previous day. This change lagged the S&P 500's 1.61% gain on the day. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq added 2.55%.

Prior to today's trading, shares of the company had gained 16.95% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 5.88% and the S&P 500's loss of 0.35% in that time.

NIO will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.14, up 64.1% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for NIO. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.03% higher within the past month. NIO 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 68, putting it in the top 27% 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.

To follow NIO in the coming trading sessions, be sure to utilize Zacks.com.


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