NIO Inc. (NIO) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, NIO Inc. (NIO) closed at $30.95, marking a +1.54% move from the previous day. This change outpaced the S&P 500's 0.08% gain on the day. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 0.42%.
Prior to today's trading, shares of the company had gained 1.36% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 5.78% and outpaced the S&P 500's gain of 0.22% in that time.
NIO Inc. will be looking to display strength as it nears its next earnings release.
It is also important to note the recent changes to analyst estimates for NIO Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 26.92% higher. NIO Inc. currently has a Zacks Rank of #2 (Buy).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 96, putting it in the top 38% 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 the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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