NIO Inc. (NIO) closed at $ 60.27 in the last trading session, marking a -1.62% change from the previous day. This change was behind the 0.17% gain of the S&P 500 on the day. Elsewhere, the Dow lost 0.02%, while the high-tech Nasdaq added 0.38%.
Before today’s trading, the company’s shares had lost 1.43% last month. This was behind the 0.2% gain in the Automobile-Tire-Truck sector and the 2.33% in the S&P 500 in that period.
Investors expect strength from NIO as it approaches its next earnings release, which is due March 1, 2021. The company is expected to report earnings per share of – $ 0.14, an increase of 64.1% on compared to the previous year’s quarter.
Investors should also note any recent changes in analyst estimates for the NIO. These reviews generally reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider the positive revisions of the estimates as a sign of optimism regarding the company’s business prospects.
The research indicates that these revisions to the estimates are directly related to the short-term stock price boost. We developed Zacks Rank to capitalize on this phenomenon. Our system takes these estimation changes into account and provides a clear and practical classification model.
The Zacks rating system, which ranges from # 1 (strong buy) to # 5 (strong sell), has an impressive record of superior performance, audited externally, with shares # 1 generating an average annual return of + 25% since 1988. The Zack’s Consensus EPS estimate remained flat last month. NIO is currently sporting a Zacks Rank of # 3 (Hold).
The Automotive – Foreign Industry is part of the Automotive-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 97, which places it among the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of individual companies in each of these sectors. Our research shows that the top 50% of the sectors outperform the bottom half by a factor of 2 to 1.
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