"The tariff-driven market volatility has been rough on shares of Chinese electric vehicle (EV) maker Nio Inc. ( NYSE: NIO), which in April fell to a multiyear low of $3.02. Shares rebounded afterward. They are now up 63.3% year to date, despite a 3.3% retreat in the past week, even though the reception of the new ES8 was enthusiastic and BofA Securities and others boosted price targets."
"From a stock performance standpoint, Nio has been a tale of two stories. When shares debuted on the New York Stock Exchange on Sept. 12, 2018, at $9.90, they struggled to build momentum. Not until the summer of 2020 did the stock begin to surge, gaining over 810% from June 26, 2020, to Feb. 9, 2021, when the stock hit its all-time high of $62.84. Shares have fallen considerably since then,"
"The stock is now trading 62.6% higher than six months ago. Compared to a year ago, Nio's share price is up 19.9% and not far off the recent 52-week high. However, Wall Street sentiment remains somewhat cautious, with half of 26 analysts who cover the stock recommending buying shares. Their mean price target has increased to $6.57, but that is still below the current share price. Note that the high price target is up at $9.02."
Nio's shares plunged to $3.02 in April amid tariff-driven market volatility and then rebounded, rising 63.3% year to date despite a recent weekly retreat. The new ES8 received an enthusiastic reception and several firms raised price targets. Deliveries increased in the first and second quarters following launches of the mass-market brands Onvo and Firefly. High-performance models offer over 600-mile range and battery-swap technology supplements charging to address range anxiety. The stock sits well above six-month levels but Wall Street remains cautious, with a mean analyst target below the current price and a higher outlier at $9.02.
Read at 24/7 Wall St.
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