Nio doesn’t have to be a perfect business, as long as it’s growing and improving. The automaker’s story is still unfolding — and by 200 sma strategy 2025, the Nio share price will probably be much higher than it is today. UGI shares rose 0.7% to $38.88 in pre-market trading.
- Meanwhile, Nio recently disclosed its unaudited third-quarter 2022 financial and operational results.
- If those price-target reductions are deal-breakers for you, that’s a shame, because there’s more to the story.
- Bank of America analyst Ming Hsun Lee also published a price-target cut on Nio shares, in this instance from $16 to $15.
- Nio doesn’t have to be a perfect business, as long as it’s growing and improving.
- Keybanc analyst Steve Barger maintained an Overweight rating on the stock.
- Beijing shut parks and museums on Tuesday while Shanghai stiffened rules for people entering the city as China grappled with a spike in COVID-19 cases, reported Reuters.
Benzinga does not provide investment advice. Elsewhere in Asia-Pacific, Australia’s ASX 200 was up 0.6%. Japan’s Nikkei 225 traded 0.61% higher, while China’s Shanghai Composite index was trading up by 0.27%.
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South Korea’s Kospi gained 0.17%. Is set to announce new price cuts in China before the end of the year to boost sales, reported CnEVPost, citing local tech media. As of November 6, the company had installed 1,200 swapping stations across China. Did not have any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Don’t forget to check out our premarket coverage here . Beijing shut parks and museums on Tuesday while Shanghai stiffened rules for people entering the city as China grappled with a spike in COVID-19 cases, reported Reuters.
Alibaba shares gained close to 1% despite news that Chinese authorities may impose a fine of over $1 billion onJack Ma’s Ant Group. Looking ahead to the fourth quarter, Nio expects to deliver between 43,000 and 48,000 vehicles, which would represent YOY growth of around 71.8% to 91.7%. Also for Q4, Nio anticipates YOY revenue improvement of roughly 75.4% to 94.2%, to a dollar-translated range of between $2.442 billion and $2.703 billion. Investing in Chinese stocks hasn’t been easy in 2022.
Holding shares of EV manufacturers has also been challenging. All in all, Nio’s shareholders have been on a bumpy ride. Hong Kong stocks opened in the green on Wednesday, with the benchmark Hang Seng trading marginally higher ahead of the release of the FOMC minutes due later today.
Silvergate Capital shares dropped 0.7% to $24.73 in pre-market trading. Twist Bioscience shares fell 1.3% to $24.50 in pre-market trading. Post multibank review Holdings shares dropped 0.6% to $88.45 in pre-market trading. Iovance Biotherapeutics shares fell 4.8% to $6.30 in pre-market trading.
News From China Could Buoy NIO Stock
You can worry about some analysts’ price targets if you want to. However, the hard data shows that Nio’s vehicle sales are growing quickly. In addition, Nio expects to increase its vehicle deliveries and revenue YOY during the current quarter. The bad news is that some analysts reduced their price targets on NIO stock, and the company’s financial stats have some sore spots. Yet, there are also some highly encouraging data points to consider. Furthermore, potentially positive news from China could benefit Nio and its stakeholders.
In fact, it was the steepest single-day decline for Hong Kong-listed stocks since 2008. Investors can buy and hold NIO stock as the shares should be worth at least $100 apiece in a few years. However, encouraging news from China and Nio’s revenue forecast should boost investors’ confidence.
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Deutsche Bank analyst Edison Yu maintained a Buy rating on the stock. NIO shares fell 2.1% to $10.25 in pre-market trading. If those price-target reductions are deal-breakers for you, that’s a shame, because there’s more to the story.
Then, just recently, theWall Street Journal reported that China’s government eased some of its zero-Covid policies. So, perhaps the fears of an overly restrictive Chinese government were overstated, and Nio may have an opportunity to thrive as a business in the coming years. You may recall Oct. 24 as one of the worst days for U.S.-listed Chinese stocks in recent memory.
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That’s fine, as it presents a terrific buying opportunity. The share price won’t likely stay this cheap during the next few years, and $100 in 2025 should reflect Nio’s evolution into an EV-market powerhouse. Meanwhile, Nio How To Become A Junior Software Engineer In 6 Months recently disclosed its unaudited third-quarter 2022 financial and operational results. Given its current vehicle-sales growth rate, Nio should be a much bigger company in 2025. This doesn’t mean it’s time to bail, however.
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Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better. The company said on its November earnings call that it planned to install 20 power swapping stations across Europe by the end of 2022 andincrease the tally to 100 by next year. The premium EV maker just launched its first power-swapping station in Varberg, Sweden, the company said in a LinkedInpost. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.
During the third quarter of 2022, Nio’s vehicle sales jumped 38.2% YOY to the equivalent of around $1.678 billion. Moreover, the company delivered 10,059 vehicles in October 2022, indicating a jaw-dropping 174.3% YOY increase. Keybanc analyst Steve Barger maintained an Overweight rating on the stock. AMETEK shares rose 0.9% to close at $139.32 on Friday. It’s possible that Mizuho analyst Vijay Rakesh had these issues in mind when he reduced his price target on NIO stock from $40 to $34. Bank of America analyst Ming Hsun Lee also published a price-target cut on Nio shares, in this instance from $16 to $15.