The most recent trading session ended with NIO Inc. (NIO) standing at $4.29, reflecting a -1.61% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 0.47%. Meanwhile, the Dow gained 0.37%, and the Nasdaq, a tech-heavy index, lost 1.35%.
The company's shares have seen an increase of 2.11% over the last month, surpassing the Auto-Tires-Trucks sector's loss of 11.85% and the S&P 500's loss of 1.78%.
The upcoming earnings release of NIO Inc. will be of great interest to investors. The company is forecasted to report an EPS of -$0.42, showcasing a 6.67% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.85 billion, indicating a 18.31% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for NIO Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate has shifted 2.19% downward. NIO Inc. 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 155, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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This article originally published on Zacks Investment Research (zacks.com).
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