What's Going On With Nio Stock Monday?

NIO Inc NIO shares are trading higher. The company on Monday announced that it entered into a technology license agreement with Forseven Limited.

What Happened: Nio has entered into a technology license agreement with CYVN Holdings subsidiary Forseven Limited. The company will grant a worldwide license to Forseven to use some of Nio’s technical information and solutions, software and intellectual property rights related to its smart electric vehicle platforms.

The information will be used for the research and development, manufacturing and sales of vehicle models sold or marketed under Forseven brands and the provision or procurement of certain after-sales services for the licensed products to its users. Nio will receive technology license fees upfront plus royalties based on future sales of licensed products.

Nio is scheduled to report fourth-quarter financial results before the market open on March 5. The company is expected to report a loss of 51 cents per share, according to estimates from Benzinga Pro. Last quarter, Nio beat EPS estimates, but missed analyst expectations on the top line.

Check This Out: Less Than Half Of Tesla’s Latest Model 3 Parts Are Made In North America, NHTSA Filing Reveals

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. Nick Lai from JP Morgan in Nio is the most bearish, expecting a 41.18% 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 three months, Nio fell 24.14%, 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.

NIO Price Action: Nio shares were up 4.91% at $5.66 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Nio.