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Prominent Chinese multinational automobile manufacturer NIO Inc. is to release its Q3 2022 earnings report by November 2022. Prior to the upcoming financial release, many analysts have forecasted metrics like target price for NIO stock, stock rating, earnings per share, etc. The forecast reflects quiet optimism around the stock price given companies recent performances and future outlook, regardless of its past levels.
Impressive Future Outlook Despite NIO Stock’s Past Performance
Stock price for NIO has seen a lot of consistent ups and downs while clear decline in a longer timeframe. At the press time, NIO stock price is trading at 9.71 USD with a slight uptick of 0.41% in a day. This seems the only positive grade for the stock price where it has lost value in the past. Current trading price is over 37% less from its stock price a month ago. Similarly it declined about 44.5% in the last six months with a 76.49% drop in the past year.
Regardless of companies stock price continues fall in past months, analysts believe it to bounce back and showcase significant growth in upcoming year. TradingView analysts forecasted the target price for NIO stock 27.95 USD with a stock rating of “strong buy”. EPS for the stock is expected -0.17 USD. While Investing.com analysts set the target price for stock 208.29 USD for the upcoming year with a “buy” rating.
NIO Reports Overall EV Deliveries
On November 1st, 2022 the EV specialized automobile manufacturer released the number of vehicles the company delivered in October 2022. According to NIO, it has delivered about 10,059 vehicles overall for last month, which is a massive increase of 174.3% from October 2021. The delivered vehicles include 5,979 vehicles from premium smart electric SUVs and 4,080 premium smart electric sedans.
Further the company also noted from the start of this year it has delivered 92,493 vehicles. This accounts for about 32% year over year growth. Overall number of delivered NIO vehicles by October 2022 is said to be 259,563 vehicles.
Founded in November 2014, NIO Inc is a leading player within the premium smart electric vehicle space. The company holds specialization in designing and development of electric vehicles and is also known for developing battery charging stations. It holds a market capitalization of 16.05 billion USD along with revenue of 6.26 billion by 2021. The company is currently headquartered in Shanghai.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
