NIO Inc. (NIO) closed at $4.49 in the latest trading session, marking a -3.23% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.05%. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq decreased by 0.64%.
The company's shares have seen a decrease of 1.9% over the last month, surpassing the Auto-Tires-Trucks sector's loss of 9.85% and falling behind the S&P 500's gain of 0.61%.
The investment community will be paying close attention to the earnings performance of NIO Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.07, marking a 78.13% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.87 billion, up 83.44% from the year-ago period.
NIO's full-year Zacks Consensus Estimates are calling for earnings of -$0.1 per share and revenue of $19.36 billion. These results would represent year-over-year changes of +89.8% and +57%, respectively.
It is also important to note the recent changes to analyst estimates for NIO Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 20.51% higher. Currently, NIO Inc. is carrying a Zacks Rank of #2 (Buy).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 201, positioning it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>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
This article originally published on Zacks Investment Research (zacks.com).