EV Stock Brushes Off Quarterly Miss on Strong Deliveries

The security is still down 74% year-over-year, though

Digital Content Manager
Nov 10, 2022 at 12:02 PM
facebook X logo linkedin

Nio Inc (NYSE:NIO) was trending on Stocktwits earlier today, after the Chinese electric vehicle (EV) maker reported worse-than-expected third-quarter losses and a revenue miss. Shares are brushing off these dismal results, though, up 11.2% at 10.28 at last check, after the company noted quarterly deliveries jumped 29.3% year-over-year. Plus, current-quarter deliveries are expected to nearly double from a year ago.  

Analysts are overwhelmingly optimistic on NIO, with all nine in coverage calling it a "buy" or better. Plus, the stock's 12-month consensus target price of $27.77 is a whopping 170.1% premium to current levels.

The security is today is looking to snap its three-day losing streak, but is yet to conquer overhead pressure from the 30-day moving average, which has been guiding NIO lower since September. And while the $9 level has been serving as floor for shares during the past couple of weeks, year-over-year Nio stock remains down 74%. 

It's also worth noting Schaeffer's Volatility Scorecard (SVS) sits at 83 out of a possible 100. This suggests options traders pricing in relatively low volatility expectations at the moment, and that NIO tends to exceed said expectations -- a boon for buyers. 



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.