Nio (NIO) is preparing to report as its first rival electric sedan in the fourth quarter at the end of Thursday. Tesla (TSLA) Model S, roll off the line. On Thursday morning, Nio shares edged towards a third straight forward.
According to CnEVPost.com, the first batch of mass-produced ET7s, a highly autonomous electric sedan, was rolled off the Hefei production line on Thursday. Delivery is scheduled to begin on March 28th.
Nio’s earnings
Estimate: Wall Street expects Chinese EV startups to lose 14 cents per US Depositary Receipt, compared to 16 cents a year ago. Revenues are expected to increase 49% year-on-year to $ 1,532 million, according to FactSet. However, it shows a slowdown in sales growth for the third straight quarter, which will be significantly lower than the 122% increase in sales in the third quarter.
result: Please check again at the end of Thursday.
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Shanghai-based Nio has already stated that it sold 25,034 EVs in the fourth quarter of 2021, which is close to the upper limit of the target range. Nio’s fourth-quarter sales were up 44% year-over-year, up slightly from the third quarter.
However, due to the global chip shortage that weighed on EV sales, Nio faced supply and production challenges.This year, China’s EV startup peer Xpeng (XPEV) and Reauto (LI) Outperformed Nio in both January and February.
Niostock
Equities reversed their initial losses, rising 0.4% to 21.95 in today’s stock market. Nio’s share price has risen in six of the last seven sessions, but is still below highs and no buying points are visible.
Tesla rose 0.9% on Thursday, moving towards 1208.10 buypoints after opening its first European plant near Berlin. Xpeng reported on Monday fell 3.3%. Li Auto fell 1.3%.Chinese EV giant BYD (BYDDF) increased by 0.7%.
The once incandescent Nio stock has fallen over the past year. However, Nio is above the 21-day moving average and is about to regain its 50-day average after jumping last week as concerns about delisting have eased. The average for 21 and 50 days was below the long-term average for 200 days. This is a sign of a recent struggle.
China’s EV stocks could more than double: Analysts
Deutsche Bank analyst Edison Yu said on March 20 that “the flow is finally changing” for Nio shares.
“We’ve been stagnant over the past few quarters due to operational bottlenecks, but I think shipments are on track to increase from 10,000 per month to 25,000 at the end of the year, which explains the supply constraints. It will shift to a product cycle, “he said.
Yu has hoped for the launch of several new electric vehicles.
“We expect three new models to be available this year starting next week at ET7, according to local media reports, which has received very favorable early reviews,” Yu said. Says. He estimates that he will buy Nio shares at a 12-month price target of 50.
Nio is Tesla’s new rival in China. William Li, CEO of Nio, considers the luxurious and autonomous ET7 electric sedan to be a rival to the Model S.
In 2021, EV sales surged in China, once again becoming the world’s largest electric vehicle market.
However, there are many headwinds in Nio stocks. Concerns about the US delisting Chinese stocks have recently revived, but last week Beijing showed progress in tackling the issue with US regulators.
Rival Li One announced on Wednesday that the price of the Li One SUV will increase from April 1st. Previously, Tesla, Xpeng and BYD raised vehicle prices due to higher raw material costs.
Xpeng, Li One and BYD are all bringing new EVs to the highly competitive Chinese market. And last week Volkswagen (VWAGY) said it will focus more on China as the Ukrainian war hits the European car supply chain.
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