Summary
- Nio is expected to report a negative 31 cents in earnings per share and $2.44 billion in revenues for the second quarter
- The company saw a 35.8% increase in vehicle deliveries in 2024, reaching 128,100 units with 20,176 vehicles delivered in August
- Despite stock being down 60.68% over the past year, technical indicators suggest potential for future bullish movement
- Analysts have a Buy rating on Nio stock with a price target of $14.52, implying over 70% upside
- Nio stock closed Wednesday’s session 2.05% higher at $4.24
Article
Wall Street analysts are expecting Nio Inc to report a negative 31 cents in earnings per share and $2.44 billion in revenues for the second quarter. The Chinese electric vehicle manufacturer has seen impressive year-over-year growth, with a 35.8% increase in vehicle deliveries in 2024, reaching 128,100 units. In August alone, Nio delivered 20,176 vehicles, bringing their total deliveries to 577,694 vehicles by the end of August. Despite this growth, the stock has seen a significant decline of 60.68% over the past year and 49.52% year-to-date.
The stock chart for Nio indicates a relatively stagnant phase but with buying pressure, suggesting potential for future bullish movement. The simple moving averages for Nio’s stock show bullish momentum, with the 50-day SMA slightly above the current share price. However, the 200-day SMA indicates a potential long-term downtrend. Technical indicators like MACD and Bollinger Bands align with a bearish sentiment, while the RSI suggests the stock is in neutral territory. Overall, the technical indicators lean towards a cautious approach.
Analysts see over 70% upside potential for Nio stock, with a consensus analyst rating of Buy and a price target of $14.52. Ratings from BofA Securities and Citigroup imply a 71.23% upside with an average price target of $7.25. Despite the short-term bullish signals, there is a cautious approach recommended based on the technical indicators. Nio stock ended the most recent session 2.05% higher at $4.24.
In conclusion, Nio Inc is poised to report its second-quarter earnings, with analysts expecting a negative EPS and solid revenues. The company has shown strong growth in vehicle deliveries, but the stock has seen significant declines over the past year. Technical indicators on the stock chart suggest a cautious approach, although analysts see over 70% upside potential for Nio stock. Investors will be closely watching the earnings report and how the market reacts to it in the coming days.
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