The most recent trading session ended with NIO Inc. (NIO) standing at $4.10, reflecting a +0.49% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 1.83%. Meanwhile, the Dow gained 1.65%, and the Nasdaq, a tech-heavy index, added 2.45%.
Heading into today, shares of the company had lost 10.13% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 10.85% and lagging the S&P 500's loss of 3.31% in that time.
The investment community will be paying close attention to the earnings performance of NIO Inc. in its upcoming release. The company is predicted to post an EPS of -$0.40, indicating a 11.11% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.85 billion, indicating a 18.31% growth compared to the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for NIO Inc. Such recent modifications usually signify the changing landscape 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, NIO Inc. holds a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 209, positioning it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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