#2 - Nio (NYSE:NIO)
A year ago, I would have laughed at myself for including Nio (NYSE:NIO) as an EV stock ready for a resurgence. What a difference a year makes.
Nio is now well-positioned to be one of the leading EV manufacturers in China. And its becoming increasingly likely that the company may successfully branch out to Europe and, maybe, to the United States.
NIO stock is down nearly 30% for the year at the time of this writing. And it’s hard to pinpoint exactly why. The company’s latest earnings report was solid. The company is on pace to 90,000 vehicles this year. And their battery-as-a-service (BaaS) initiative is an innovative solution to an issue that is critical to creating EV adoption.
Maybe investors are saying that fundamentals matter. If they do, then they’re certainly not grading Nio on a curve. Because while the company will not be free cash flow positive for some time, they did cut their net loss by nearly half in 2020. And Nio president Lihong Qin believes the company can be profitable in one to two years.
About NIO
NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.
Read More - Current Price
- $5.22
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 9 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $8.48 (62.4% Upside)
