In the latest trading session, NIO Inc. (NIO) closed at $50.40, marking a -0.98% move from the previous day. This move lagged the S&P 500’s daily gain of 0.75%.
Coming into today, shares of the company had gained 24.45% in the past month. In that same time, the Auto-Tires-Trucks sector gained 4.45%, while the S&P 500 gained 2.91%.
NIO will be looking to display strength as it nears its next earnings release.
NIO’s full-year Zacks Consensus Estimates are calling for earnings of -$0.65 per share and revenue of $5.19 billion. These results would represent year-over-year changes of +1.52% and +115.7%, respectively.
Investors should also note any recent changes to analyst estimates for NIO. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. NIO is holding a Zacks Rank of #3 (Hold) right now.
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NIO Inc. (NIO) : Free Stock Analysis Report
To read this article on Zacks.com click here.