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NIO Inc. (NIO) closed at $60.27 in the latest trading session, marking a -1.62% move from the prior day. This change lagged the S&P 500's 0.17% gain on the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.38%.
Prior to today's trading, shares of the company had lost 1.43% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 0.2% and the S&P 500's gain of 2.33% in that time.
Investors will be hoping for strength from NIO as it approaches its next earnings release, which is expected to be March 1, 2021. The company is expected to report EPS of -$0.14, up 64.1% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for NIO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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 remained stagnant within the past month. NIO is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.