NIO Stock Price Declined More Than 20% in its YTD Price Analysis

NIO (NYSE: NIO) stock price noted its 52-week low at $7.33 earlier this month. While its 52-week high was at $24.43 in June last year. On May 15th, NIO stock price closed at $7.95 with nearly 6% of drop. The EV stock opened at $8.26, gave high at $8.34 while low was at $7.94.

NIO Stock Price Analysis

NIO stock price showing bearish trend. The pre-market price of the stock is at $8.03 that is quite up from its last closing price. The bearish trend of NIO stock clearly shows a long-term bearish outlook that shows bear strength in the market. The active bears in the market continued their bearish trend in NIO stock, indicating lower confidence of investors in it.

As shown in the above chart, NIO stock price reached its 20-day EMA in its previous trading session. However, last week bulls also showed their potential to take the stock price upside. But they can’t continue the bullish trend even for a day. Resultant, the bears once again started showing their potential in the market and dropped down the EV stock price.

From the eyes of analysts, they have set the price target of NIO stock at $13.26, which is up more than 60% from its closing price. The analysts also offer a 1-year price forecast having a maximum estimate of $24.83 while minimum estimate is at $7.93. According to their forecasts, the minimum estimate set by the analysts and the 52-week low of NIO stock is nearing.

NIO Inc Financials Highlights

NIO Inc (NYSE: NIO) released its Q4 2022 results earlier in March 2023. According to which, the total revenue of NIO for Q4 2022 is $2.26 Billion, and it’s 18.98% higher compared to the previous quarter. The net income of Q4 22 is $-821.64 Million.

NIO EPS for Q4 2022 are $-0.44 whereas the estimation was $-0.27 which accounts for -67.84% surprise. The revenue for the same period amounts to $2.33 Billion despite the estimated figure of $2.49 Billion. Estimated earnings for the next quarter, that is expected next month, are $-0.38, and revenue is expected to reach $1.73 Billion.

NIO Inc is a China-based company which designs, manufactures, and sells electric vehicles for the country. Its revenue breakdown overview states that the greatest contribution to the revenue figure was made by China.

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