NIO (NIO, Financial) stock saw significant movement with a 5.01% increase in its share price, reaching $7.02 per share. A total of 115.636 million shares were traded, leading to a turnover rate of 5.53% and a volatility of 8.53%. The latest financial report showed $2.409 billion in revenue, a net loss of $708 million, and an earnings per share (EPS) of -$0.35. The gross profit stood at $233 million, with a price-to-earnings ratio (P/E) of -4.67.
Regarding institutional ratings, 64% of the 36 participating institutions recommend buying, 33% suggest holding, and 3% advise selling NIO stock.
In the broader automotive manufacturing industry, which experienced an overall decline of 0.83%, stocks like Mullen Automotive, Inc., Li Auto, and Zeekr saw significant increases. Mullen Automotive, Inc., Faraday Future, and Workhorse Group, Inc. showed high activity with turnover rates of 475.00%, 24.10%, and 10.22%, respectively. Additionally, related stocks with notable volatility included Faraday Future Intelligent Electric Inc. C/Wts (To Purchase Common), Mullen Automotive, Inc., and Lotus Technology Inc. C/Wts 22/02/2029 (To Purchase Common) with volatilities of 37.17%, 37.14%, and 20.00%, respectively.
NIO is a leading electric vehicle (EV) manufacturer targeting the high-end market. Founded in November 2014, the company focuses on the design, development, and sales of premium smart electric vehicles. NIO differentiates itself through continuous technological innovations, such as battery swapping and autonomous driving technologies. The company launched its first model, the ES8, a seven-seater electric SUV, in December 2017 and began deliveries in June 2018. As of 2023, NIO's electric vehicle sales surpassed 160,000 units, accounting for approximately 2% of China's passenger NEV (New Energy Vehicle) market.
As of the latest update, positive news sentiment for NIO stood at 45.24%. An influential report indicated that NIO China secured new strategic investment of RMB 3.3 billion from three existing shareholders: Hefei Jianheng New Energy Vehicle Investment Fund Partnership, Anhui High-Tech Industry Investment Company, and SDIC Chuangyi Investment Management Company. Additionally, NIO plans to invest RMB 10 billion in cash for new shares of NIO China.
This new round of investment underscores the market's recognition of NIO's industry position and strong support for the high-quality development of the smart EV sector. NIO's new brand model, the L60, recently began nationwide delivery with positive market reception.
