NIO Inc. (NIO) closed at $3.47 in the latest trading session, marking a -3.21% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.06%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, lost 0.44%.
The company's shares have seen a decrease of 2.98% over the last month, not keeping up with the Auto-Tires-Trucks sector's gain of 0.28% and the S&P 500's gain of 2.36%.
The investment community will be closely monitoring the performance of NIO Inc. in its forthcoming earnings report. In that report, analysts expect NIO Inc. to post earnings of -$0.03 per share. This would mark year-over-year growth of 85.71%. Meanwhile, our latest consensus estimate is calling for revenue of $4.97 billion, up 62.42% from the prior-year quarter.
NIO's full-year Zacks Consensus Estimates are calling for earnings of -$0.13 per share and revenue of $19.1 billion. These results would represent year-over-year changes of +86.73% and +54.89%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for NIO Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection has moved 19.79% higher. Right now, NIO Inc. possesses 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 90, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant 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).