On June 9, Nio (NIO -0.77%) released its earnings report for the first quarter. The Chinese electric vehicle (EV) manufacturer experienced an 8% year-over-year increase in revenue, amounting to approximately $1.55 billion in USD, falling short of analysts' expectations by $80 million. Meanwhile, its adjusted net loss more than tripled to $604 million. Despite this, Nio managed to surpass consensus forecasts by reporting an adjusted loss of $0.36 per American depositary share.
Although these figures present a mixed picture, Nio's stock price remained relatively unchanged following the report and continues to hover around 90% below its peak value reached in February 2021.
Back in 2016, Nio gained considerable attention with its E9 electric supercar. However, the company did not proceed with mass production of the striking $1.2 million vehicle. Instead, it currently focuses on selling a diverse range of electric SUVs and sedans.
Nio sets itself apart from competitors through its network of battery swapping stations, allowing drivers to swiftly exchange depleted batteries for fully charged ones. The company charges a monthly subscription fee for its "Power Swap" service and provides discounts on vehicle purchases to customers who subscribe during the initial transaction.
Over the past five years, Nio has significantly increased its delivery volume. However, in 2022, the company faced challenges due to intermittent COVID-related lockdowns in China, disruptions in the supply chain, and adverse weather conditions in specific regions.
The next price target is located at $ 10
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Although these figures present a mixed picture, Nio's stock price remained relatively unchanged following the report and continues to hover around 90% below its peak value reached in February 2021.
Back in 2016, Nio gained considerable attention with its E9 electric supercar. However, the company did not proceed with mass production of the striking $1.2 million vehicle. Instead, it currently focuses on selling a diverse range of electric SUVs and sedans.
Nio sets itself apart from competitors through its network of battery swapping stations, allowing drivers to swiftly exchange depleted batteries for fully charged ones. The company charges a monthly subscription fee for its "Power Swap" service and provides discounts on vehicle purchases to customers who subscribe during the initial transaction.
Over the past five years, Nio has significantly increased its delivery volume. However, in 2022, the company faced challenges due to intermittent COVID-related lockdowns in China, disruptions in the supply chain, and adverse weather conditions in specific regions.
The next price target is located at $ 10
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.