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Nio Shares Slide Despite 76% Jump in November Deliveries

MarketDash Editorial Team
7 days ago
Nio's stock dropped Monday even after the Chinese EV maker reported strong delivery growth for November. The mixed reaction comes amid analyst downgrades and disappointing Q3 revenue figures from last week.

Sometimes good news isn't quite good enough. NIO Inc. (NIO) shares dropped Monday despite the Shanghai-based electric vehicle maker reporting solid delivery numbers for November. The market, it seems, had other ideas.

The Delivery Numbers

Nio delivered 36,275 vehicles last month, marking a 76.3% jump from the same period a year ago. That's across three brands: 18,393 from the flagship Nio brand, 11,794 from family-focused Onvo, and 6,088 from Firefly, the company's small high-end electric vehicle line.

Year-to-date deliveries now stand at 277,893 vehicles, pushing cumulative deliveries to 949,457 through November's end. Those are respectable growth figures for a company trying to compete with Tesla in the crowded EV space.

But Wait, There's Context

The stock weakness likely has more to do with last week's third-quarter earnings report. Revenue came in at $3.06 billion, falling short of the $3.26 billion analysts were expecting. The company did manage to beat on earnings though, posting losses of 15 cents per share versus estimates for 24-cent losses.

What Analysts Are Saying

Wall Street has been busy recalibrating. Barclays analyst Jiong Shao maintained an underweight rating while bumping the price target from $3 to $4. Citigroup's Jeff Chung kept a buy rating but trimmed his target from $8.60 to $6.90. Most notably, Macquarie analyst Eugene Hsiao downgraded the stock from outperform to neutral, cutting the price target from $6.70 to $5.30.

Shares were trading down 5.64% at $5.18 Monday afternoon.

Back to News

Nio Shares Slide Despite 76% Jump in November Deliveries

MarketDash Editorial Team
7 days ago
Nio's stock dropped Monday even after the Chinese EV maker reported strong delivery growth for November. The mixed reaction comes amid analyst downgrades and disappointing Q3 revenue figures from last week.

Sometimes good news isn't quite good enough. NIO Inc. (NIO) shares dropped Monday despite the Shanghai-based electric vehicle maker reporting solid delivery numbers for November. The market, it seems, had other ideas.

The Delivery Numbers

Nio delivered 36,275 vehicles last month, marking a 76.3% jump from the same period a year ago. That's across three brands: 18,393 from the flagship Nio brand, 11,794 from family-focused Onvo, and 6,088 from Firefly, the company's small high-end electric vehicle line.

Year-to-date deliveries now stand at 277,893 vehicles, pushing cumulative deliveries to 949,457 through November's end. Those are respectable growth figures for a company trying to compete with Tesla in the crowded EV space.

But Wait, There's Context

The stock weakness likely has more to do with last week's third-quarter earnings report. Revenue came in at $3.06 billion, falling short of the $3.26 billion analysts were expecting. The company did manage to beat on earnings though, posting losses of 15 cents per share versus estimates for 24-cent losses.

What Analysts Are Saying

Wall Street has been busy recalibrating. Barclays analyst Jiong Shao maintained an underweight rating while bumping the price target from $3 to $4. Citigroup's Jeff Chung kept a buy rating but trimmed his target from $8.60 to $6.90. Most notably, Macquarie analyst Eugene Hsiao downgraded the stock from outperform to neutral, cutting the price target from $6.70 to $5.30.

Shares were trading down 5.64% at $5.18 Monday afternoon.