What's Going On With NIO Stock?

NIO Inc – ADR NIO shares are trading lower by 2.4% to $5.89 Wednesday afternoon. Shares of U.S.-listed Chinese stocks are trading lower in sympathy with Alibaba Group Holding Ltd – ADR BABA, which fell after reporting third-quarter earnings.

Alibaba stock experienced a decrease of 5.92% following its quarterly earnings report and an increase in its share buyback program. Despite reporting a 5% year-on-year revenue growth to $36.67 billion for the third quarter of fiscal year 2023, Alibaba slightly missed the consensus estimate of $36.74 billion.

Additionally, its adjusted earnings per ADS of $2.67 fell short of the expected $2.69…Read More

Is NIO A Good Stock To Buy?

Wall Street analysts view NIO on the whole as a Buy, given the history of coverage over the past three months. Vijay Rakesh from Mizuho in NIO is the most bearish, expecting a 16.67% fall in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, NIO fell 22.4%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 42.96% over the past year.

A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.

According to data from Benzinga Pro, NIO has a 52-week high of $16.18 and a 52-week low of $5.18.