Nio (NYSE:NIO) is set to release its second quarter Fiscal 2023 earnings results on August 29, before the market opens. Nio has had mixed results in terms of beating analyst expectations over the past eight quarters. Currently, Wall Street is anticipating an EPS of -$0.41, with revenue of $1.26 billion. This would equate to year-over-year declines of 57.3% and 11.7%, respectively.
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Insights from Options Trading Activity
A quick look at options activity shows that options traders are pricing in a 10.62% move by NIO stock in either direction once the company releases its earnings report. Last quarter, the stock jumped by 7.83% following its financial results.
The anticipated earnings move is determined by computing the at-the-money straddle of the options closest to the expiration after the earnings announcement.
Is Nio Stock a Buy?
Overall, analysts have a Moderate Buy consensus rating on NIO stock based on seven Buys, five Holds, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average price target of $12.95 per share implies 17.55% upside potential.
