NIO Stock Drops Despite Flat Market as Earnings Estimates Decline

NIO Inc. (NIO) stock dropped 1.93% despite broader market being flat. Analysts expect earnings per share of -$0.43.

Revenue is forecasted to increase 43.95% year-over-year to $2.63 billion.

For the full year, EPS is expected to decline 40.31% while revenue is estimated to grow 18.34%.

Recent changes to earnings estimates signify shifting business trends and affect stock price. NIO estimates have declined lately.

NIO currently has a Zacks Rank #4 (Sell). The Automotive - Foreign industry ranks in the top 36% out of over 250 industries.