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Nio (NYSE:NIO) stock fell Friday after Citi analysts cut their price target on the Chinese electric vehicle (EV) maker by 20% to $8.50 per share from $10.40. However, they maintained their “buy” rating.Today’s slashed price target comes despite relatively strong year-to-date vehicle sales from Nio, alongside the recent inaugural releases of its new Onvo and Firefly models. Indeed, Citi analysts even projected a higher sales volume for 2024 of 227,000 units from 190,000.Unfortunately, Citi lowered its gross ...

NIO Inc. (NIO) incurred a loss per American Depositary Share of 36 cents in the first quarter of 2024, wider than the Zacks Consensus Estimate of a loss of 31 cents. The company had reported a loss of 42 cents in the year-ago quarter.This China-based electric vehicle maker posted revenues of $1.37 billion, which missed the Zacks Consensus Estimate of $1.48 billion and fell 12.2% year over year due to lower delivery volumes.Key DetailsNIO delivered 30,053 vehicles in the first quarter, down 3.2% year over ye ...

After announcing their first quarter 2024 earnings results, shares of NIO Inc. NYSE: NIO are now falling by as much as 7% in the day’s trading session. Despite the negative media surrounding Chinese stocks and some disappointing figures for NIO recently, this event could mark the start of a bottoming for the stock and maybe even a new leg higher.NIO TodayNIONIO$4.90 -0.36 (-6.84%) 52-Week Range$3.61▼$16.18Price Target$7.53Add to WatchlistAutomotive stocks like Tesla Inc. NASDAQ: TSLA have also seen their st ...

M N 7 Jun 2024 CMB International Global Markets | Equity Research | Company Update NIO Inc. (NIO US) Still no sign of turning profitable Target Price US$5.60 Maintain HOLD. Both NIO’s ASP and vehicle GPM missed in 1Q24, while R&D (Previous TP US$6.20) expenses and GPM for other income beat. Although its planned launch time for Up/Downside 6.3% its third brand is earlier than we had expected, we believe management’s GPM Current Price US$5.27 guidance and assumptions for breakeven could be too optimistic. Chi ...

M N 7 Jun 2024 CMB International Global Markets | Equity Research | Company Update NIO Inc. (NIO US) Still no sign of turning profitable Target Price US$5.60 Maintain HOLD. Both NIO’s ASP and vehicle GPM missed in 1Q24, while R&D (Previous TP US$6.20) expenses and GPM for other income beat. Although its planned launch time for Up/Downside 6.3% its third brand is earlier than we had expected, we believe management’s GPM Current Price US$5.27 guidance and assumptions for breakeven could be too optimistic. Chi ...

Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China.CNBC | Evelyn ChengBEIJING — Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing their global footprint.The nearly 10-year-old company will also start shipping its lowest-cost brand, Firefly, in the first half of next year, Li said.Nio, which recently received funding from Mid ...

NIO Inc. (NYSE:NIO) Q1 2024 Earnings Conference Call June 6, 2024 8:00 AM ET Company Participants Rui Chen - Head of IR William Li - Founder, Chairman & CEO Steven Feng - CFO Stanley Qu - SVP, Finance Conference Call Participants Tim Hsiao - Morgan Stanley Ming-Hsun Lee - Bank of America Ben Wang - Deutsche Bank Paul Gong - UBS Yuqian Ding - HSBC Cheng Jing - CICC Tina Hou - Goldman Sachs Operator Hello, ladies and gentlemen. Thank you for standing by for NIO Incorporated’s First Quarter 2024 Earnings Confe ...

Nio missed first-quarter expectations, but there has been better news since that period.First-quarter earnings were released today by Chinese electric vehicle (EV) maker Nio (NIO -5.69%). The company lost slightly more than the market anticipated on sales that also disappointed investors. But it isn't all bad news for investors.Still, the market reaction led to as much as a 10% drop in Nio's American depositary shares. As of 11:45 a.m. ET, the stock recovered some of that decline, but was still down by 6.7% ...

NIO. Inc. (NIO) has received regulatory approval to build a third factory in China, boosting its total production capacity to one million cars, bringing it closer to Tesla's (TSLA) Shanghai plant, per Reuters.Tesla can produce 1.1 million vehicles annually from Shanghai plant. The approval for a plant with a 600,000-unit annual capacity is a significant win for NIO, given China’s state planner's cautious approach to new EV production plans since 2022 due to overcapacity concerns and slowing demand. NIO obta ...