- NYSE:NIO added 1.76% on Tuesday because it continued its momentum from late final week.
- Semiconductor scarcity appears to have had no impact to date on Nio’s file deliveries.
- The next median value goal on Wall Avenue means Nio might have some critical upside potential in 2021.
NYSE:NIO has seemingly turned a nook after going by way of a brutal correction for the higher a part of the final two months, as development sectors like electrical automobiles took a backseat to cyclical blue-chip corporations. On Tuesday, Nio continued its rebound from final week because it added 1.76% to shut the buying and selling session at $40.00 even. Shares are nonetheless buying and selling beneath each the 50-day and 200-day transferring averages, so Nio definitely has some work to do earlier than the favored inventory will get again on monitor with its efficiency from 2020.
The continued world semiconductor scarcity appeared to haven’t any impact on the primary quarter gross sales report that Nio issued on Friday earlier than the Easter lengthy weekend. Nio officers beforehand got here out and acknowledged that automobile manufacturing would drop from about 10,000 to about 7,500 per thirty days, which is correct on tempo with the 20,060 whole automobiles delivered within the first three months of 2021. This determine represents an unimaginable 423% yr over yr enhance, which ought to proceed to develop with impending growth into Europe, presumably by the second half of 2021.
NIO Inventory value
Whereas the broader markets appeared to take a bearish activate Nio after its fast development all through 2020, there are nonetheless a number of analysts on Wall Avenue which have considerably greater value targets than its present ranges. In actual fact, the median value goal amongst analysts who cowl Nio is roughly $55, which nonetheless represents a close to 15% upside from its present value.