Tesla Rival, NIO, Higher on 3 Record-Breaking Deliveries

The stock is also eyeing its fourth straight weekly gain

Deputy Editor
Jun 19, 2020 at 2:54 PM
facebook X logo linkedin


The shares of China-based electrical vehicle-maker NIO Inc (NYSE:NIO) are up 2.6% at $7.36 at last check, earlier touching a fresh annual high of $7.63. While the catalyst for today's surge is unclear, since we last checked in -- after the company announced record-breaking deliveries earlier this month -- the car name has revealed a stock offering of 72 million shares. Up 207% in the last three months, the security also looks to finish the week strong, pacing toward a fourth straight weekly gain. 

Analysts are mostly lukewarm on NIO, with five out of six at a "hold," with the remainder sporting a "strong buy." Meanwhile, the 12-month consensus price target of $5.10 is a whopping 40% discount to current levels. In simpler terms, NIO looks well overdue for a fresh round of upgrades and/or price-target hikes.

Despite the tepid sentiment, calls are favored in the options pits. The stock's 50-day call/put volume ratio of 4.27, more than quadrupling puts at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks in the elevated 76th percentile of its annual range, suggesting a preference for long calls over puts of late. Today is looking like more of the same, with 156,000 calls and 36,000 puts across the tape so far. 

Meanwhile, though short interest has started to fall in the last reporting period, these 138.45 million shares still account for 18.1% of the stock's available float. In other words, it would take three days to buy back these bearish bets at NIO's average pace of trading. 

 


 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI