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nio stock jp morgan

More specifically, according to Reuters, on August 11 Nio reported that its second quarter revenue more than doubled to 3.72 billion — 220 million yuan more than expected. According to CleanTechnica, Nio delivered 4,708 vehicles in September — up 133% from the year before. In the third quarter, its deliveries increased 154% to 12,206 and its deliveries in the first nine months of 2020 have more than doubled to 26,375. Nio stock popped on October 14 — up 26% — due to a bullish report from JP Morgan.

nio stock jp morgan

During Thursday’s pre-market trading session, the stock fell a little more than 1%. Like many start-ups, NIO has faced cash investment challenges, evolving as it has moved through different phases of its business life cycle. It has experienced rapid growth, combined with a torrent of investment capital, which created vast cash management challenges. NIO has a high cash burn rate due to the high cost of research and development. In addition, NIO’s treasury department needed security for its cash, USD liquidity across time-zones and above all, to avoid loss of capital. Alongside that downgrade comes a new price target for NIO stock.

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Several of those have earnings on tap, including AMD, Floor & Decor (FND), InMode (INMD) and ANET stock. The SMH chip ETF, which tumbled to its worst levels since mid-March, slashed weekly losses but was still below the 50-day line. A few names, such as Lam Research (LRCX) and AMD stock, are setting up near entries.

Company News for Jun 12, 2023 – Yahoo Finance

Company News for Jun 12, 2023.

Posted: Mon, 12 Jun 2023 13:32:00 GMT [source]

The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Regarding the overall new energy vehicle (NEV) market, Lai said he remains https://forexarticles.net/top-earning-freelance-jobs-in-2021-you-need-to/ “constructive” this year, but he believes the growth rate will decelerate sharply, to 23% in 2023 from 80% in 2022. Lai cut his rating to neutral, after being at overweight since October 2020.

J.P. Morgan Bets on Chinese EV Stocks Despite ‘Flattish Demand’: NIO and XPeng in Focus

U.S. crude oil futures fell 1.1% to $76.78 a barrel in the past week, even with Friday’s 2.7% bounce. Gasoline futures dipped 0.9% for the week, but 9.1% in the past two weeks. Also, Arista Networks (ANET) is on tap to report first-quarter earnings Monday night. ANET stock, a big supplier for Meta Platforms and Microsoft, found support at its 50-day line this past week. China EV startups Li Auto (LI), Nio (NIO) and XPeng (XPEV) reported April deliveries early Monday. Li Auto sales surged to a fresh record of 25,681 hybrid SUVs, up 23% vs. March and 516% vs. a year earlier.

  • The JPMorgan analyst bumped NIO stock down from an “overweight” rating to a “neutral” rating.
  • NIO also benefitted from JPM GL’s Morgan Money, a multi-currency, 24/7 trading and risk management platform.
  • Despite the loss in share price, JPMorgan’s Nick Lai sees Nio as a good value.

The stock market rally fell sharply last week, but rebounded to close with solid gains, a shakeout that could set the stage for a stronger advance. XPeng’s revenues peaked in 4Q21, at $1.34 billion, and have been trailing off since then. In 2Q22, the most recent quarter reported, the company had a top line of $1.12 billion; while down from the peak, that was still up 90% y/y. XPeng’s net losses, however, are deepening, and the $403 million net loss from 2Q22 was more than double the $184 million from 2Q21.

NIO Stock Slips After JPMorgan Downgrade

The delivery targets for Q disappointed investors who had been hoping for a continued strong pace of growth. But battery issues and the well-flagged semiconductor problems were mentioned by CEO William Li on the analyst call. NIO is a Chinese electric vehicle (EV) manufacturer designing manufacturing and selling smart EV’s. Certain documents made available on the website have been prepared and issued by persons other than Leverage Shares Management Company.

Stocks could fall 20% if bond market view priced in: JPMorgan – MarketWatch

Stocks could fall 20% if bond market view priced in: JPMorgan.

Posted: Fri, 09 Jun 2023 10:49:00 GMT [source]

Another Fed rate hike is on tap Wednesday, along with major economic data in the coming week. A big question is whether Fed chief Jerome Powell signals that the central bank will pause rate hikes. The analyst does believe that there will be a greater volume momentum in the second half of 2023 due to the introduction of new vehicle models, as stated in the note. However, as a result of Tesla’s recent price reductions, the broader EV industry will be under greater pressure to offer lower prices to attract more buyers. Those deliveries slowed down as summer wound to a close, and the October total was 5,101 deliveries.

NIO Reports $700 Million Net Loss in Q1

XPeng reported just over 7,000 EV sales, up fractionally vs. March. Nio sales slumped to below 7,000 as is struggles with a model changeover. Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session. The major indexes had tumbled on Tuesday as First Republic Bank (FRC) revived banking fears. Initially, megacaps such as Meta Platforms (META) and Microsoft (MSFT) led the comeback, but breadth improved late in the week.

  • Investors likely cut exposure in the past week as many stocks erased gains or flashed sell signals.
  • Weekly data had given strong signals about monthly deliveries for all three companies.
  • The agency estimated that its insurance fund would lose $13 billion in the deal.
  • Year-to-date, the shares in this EV stock are down 87% on Wall Street.

The stock was not the only one to be downgraded by Wall Street firms, JPMorgan was not the only one. As part of the same move, Barclays cut its price target to $10 from $18 in a note released on Wednesday. The firm also upgraded its rating to equal weight from overweight, saying that it does not expect “large spending to slow down anytime soon.” NIO shares fell 0.8% to close at $7.73 on Friday, but added 3.2% in today’s pre-market trading session. Nio said it would cut prices on all its new models starting Monday.

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