NIO Inc. (NIO) Stock Sinks As Market Gains: What You Should Know
NIO Inc. (NIO) closed the most recent trading day at $10.92, moving -0.09% from the previous trading session. This change lagged the S&P 500's 1.29% gain on the day. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, lost 4.94%.
Prior to today's trading, shares of the company had gained 1.58% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 28.83% and the S&P 500's gain of 5.64% in that time.
NIO Inc. will be looking to display strength as it nears its next earnings release.
Any recent changes to analyst estimates for NIO Inc. should also be noted by investors. 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 company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 9.38% lower. NIO Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% 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.
To follow NIO in the coming trading sessions, be sure to utilize Zacks.com.
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