NIO Inc. (NIO) closed at $34.33 in the latest trading session, marking a -7.07% move from the prior day. This change lagged the S&P 500's 1.04% loss on the day.
Coming into today, shares of the company had lost 4.55% in the past month. In that same time, the Auto-Tires-Trucks sector lost 0.23%, while the S&P 500 gained 3.83%.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.52 per share and revenue of $5.16 billion, which would represent changes of +21.21% and +114.71%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NIO. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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. The Zacks Consensus EPS estimate has moved 6.85% higher within the past month. NIO is currently sporting 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 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.
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