NIO Inc. (NIO) Beats Stock Market Upswing: What Investors Need to Know

NIO Inc. (NIO) closed the last trading day at $5.71, indicating a +1.6% change from the end of the previous session. This change outpaced the S&P 500's 1.25% gain on the day. Elsewhere, the Dow Jones gained 0.97%, while the tech-heavy Nasdaq added 1.3%.

The company's shares have seen a decline of 33.88% over the past month, failing to keep pace with the Auto-Tires-Trucks sector's loss of 11.14% and the S&P 500's gain of 1.58%.

Investors will be keeping an eye on NIO Inc.'s performance in its upcoming earnings release. The company's earnings per share (EPS) is expected to be -$0.51, reflecting no change from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.29 billion, down 1.86% from the year-ago period.

Investors should also note any recent adjustments to analyst estimates for NIO Inc. These latest adjustments often reflect the changing dynamics of near-term trading patterns. As a result, optimistic estimate changes indicate analysts' favorable outlook on the health and profitability of the company's business.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we have established the Zacks Rank, a proprietary model that considers these estimate changes and provides a working 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 18.58% higher. NIO Inc. is currently sporting a Zacks Rank of #2 (Buy).

The Automotive - Exterior industry is part of the Auto-Tires-Trucks sector. Currently sporting a Zacks Industry Rank of 65, this industry is in the top 26% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our various industry groups by determining the average Zacks Rank of the individual stocks that make up the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

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