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NIO Inc. (NIO) Gains As Market Dips: What You Should Know

In the latest trading session, NIO Inc. (NIO) closed at $29.13, marking a +1.75% move from the previous day. This change outpaced the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.

Heading into today, shares of the company had lost 4.09% over the past month, lagging the Auto-Tires-Trucks sector's gain of 3.62% and the S&P 500's loss of 1.81% in that time.

Wall Street will be looking for positivity from NIO Inc. as it approaches its next earnings report date.

Any recent changes to analyst estimates for NIO Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. NIO Inc. is currently a Zacks Rank #2 (Buy).

The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 36% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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