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In the latest market close, NIO Inc. (NIO) reached $4.28, with a -0.35% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.46%. Elsewhere, the Dow saw an upswing of 0.65%, while the tech-heavy Nasdaq depreciated by 3.07%.
Shares of the company witnessed a loss of 4.24% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 8.85% and underperforming the S&P 500's gain of 1.08%.
Investors will be eagerly watching for the performance of NIO Inc. in its upcoming earnings disclosure. On that day, NIO Inc. is projected to report earnings of -$0.40 per share, which would represent year-over-year growth of 11.11%. At the same time, our most recent consensus estimate is projecting a revenue of $2.85 billion, reflecting a 18.31% rise from the equivalent quarter last year.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 moved 1.76% higher. As of now, NIO Inc. holds a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 202, placing it within the bottom 20% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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NIO Inc. (NIO) : Free Stock Analysis Report