Geometry Dash APK Hill Climb Racing APK
29.6 F
New York
Friday, January 28, 2022

Nio Inc (NYSE:NIO) Hits New High, Soars 50% This Week on Value Buying

Must read

Medmen Enterprises Inc (OTCMKTS:MMNFF) Pulls Back From Highs as Buzz Cools Off

Among the sectors which have bounced back in 2021, the cannabis sector is one of considerable interest since it had been in...

VirtualArmour International Inc (OTCMKTS:VTLR) Jumps Another 250% This Week

Not every move in the stock market can always be explained and hence, investors are often rightly confused when a stock records...

Ozop Energy Solutions Inc (OZSC) is Riding a Green Wave of Momentum

Investors who are looking for fresh opportunities in rising stocks may have a lot to choose from at this point but it...

Drone Delivery Canada Corp (OTCMKTS:TAKOF) is Soaring after Roadmap Update

The drone industry has grown at a remarkable rate over the past five years or so and hence, it is no surprise...

In recent months, the stock of Chinese electric vehicle manufacturer NIO had been in a holding pattern, but that now seems like ancient history. In recent weeks, the stock has been on a roll, and it continued on its merry way on Wednesday. On Wednesday, NIO stock rallied impressively after it got an upgrade from an analyst at investment bank Goldman Sachs.

The company’s American depository share rallied by as much as 10.7% on Wednesday, and that reflects a rise of as much as 25% since NIO released its quarterly earnings report last week. It could be worthwhile for investors to keep an eye on the stock in the coming days.

Analyst’s Upgrade

Fei Fang, the Goldman Sachs analyst, upgraded the rating of the stock to a buy from neutral and also set the target price at $6.40 a share. In his research note, Fang stated that in the first quarter, NIO burned through 1.6 billion Yuan, and that is a significant improvement from the 3.6 billion that it had burned in Q2 2019. In the second quarter last year, NIO had to manage a battery recall, and that had proven costly. The company had been in the middle of a liquidity crunch not too long ago.

However, Fang stated that the lower burn rate and the injection of fresh capital had taken care of the immediate liquidity risks.  More importantly, Fang pointed out that despite the turmoil caused by the coronavirus pandemic, NIO has recorded a 37% jump in deliveries up until April. He said that it probably indicates that NIO is growing as a brand, and its future sales might depend on its own reputation rather than hectic brand promotion.

Last week, the company stated that it believes that its revenues, as well as deliveries, are going to grow by more than 100% year on year in the second quarter of 2020. Sign-up for continuing coverage on shares of NIO stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Latest article

iQSTEL Inc (OTCMKTS:IQST) Stock Makes a Big Move: Jumps 45% In a Week

In the past week, iQSTEL Inc (OTCMKTS: IQST) has emerged as a point of focus among a large number of investors and...

HUMBL Inc (OTCMKTS:HMBL) Stock Sees Big Bounce After Recent Slump

Since the beginning of 2021, HUMBL Inc (OTCMKTS:HMBL) had been one of the major movers from among penny stocks and had come into...

Dividend Stocks to Buy Now

A classic mistake that investors make when looking for dividend stocks is to just go for the biggest dividend yield. It makes...

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service