NIO Stock Forecast: Nio opens higher on Monday, up 2.7%
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UNLOCK OFFER- NYSE:NIO fell by 1.92% during Friday’s trading session.
- Deutsche Bank doubles down on Nio and adds to its stock position.
- EV makers are on notice as Lucid looks to dominate the luxury EV sector.
UPDATE: NIO rose 2.7% to $43.45 in the first 15 minutes of Monday's New York session. It appears that buyers are getting in ahead of Tuesday's Q3 earnings release.
NYSE:NIO saw its recent win streak snapped on Friday as the EV sector failed to continue on with its hot streak. Shares of NIO fell by 1.92% and the stock closed the trading week at $42.29. It was still a strong week for the popular Chinese EV maker, as Nio managed to climb higher by 11% over the past five sessions. This is a key time of the year for Nio, as the company seems somewhat fragile coming off a disappointing October delivery report. Nio is also set to report its third quarter earnings on November 9.
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Just a day after Deutsche Bank analysts reiterated their buy rating for Nio’s stock and provided a bullish $70 price target, the investment firm filed its Form 13F for the quarter, disclosing an even larger stake. Deutsche Bank was already a major investor in Nio, but last quarter the German bank added nearly 1.3 million more shares. This brings Deutsche Bank’s total position up to 7.136 million shares worth an estimated $311 million. Obviously Deutsche Bank’s price target makes more sense now that we are able to see how large of a position the company holds.
NIO stock price
While it hasn’t made any plans to debut its vehicles in China as of yet, Lucid Group (NASDAQ:LCID) is turning heads all over the EV market. On Friday, shares of the newly public electric vehicle company surged by 12.61% as Motortrend released a stunning review of the new sedans. Nio is one of China’s main luxury EV makers, and the potential of this new rival has some Nio investors looking over their shoulders.
- NYSE:NIO fell by 1.92% during Friday’s trading session.
- Deutsche Bank doubles down on Nio and adds to its stock position.
- EV makers are on notice as Lucid looks to dominate the luxury EV sector.
UPDATE: NIO rose 2.7% to $43.45 in the first 15 minutes of Monday's New York session. It appears that buyers are getting in ahead of Tuesday's Q3 earnings release.
NYSE:NIO saw its recent win streak snapped on Friday as the EV sector failed to continue on with its hot streak. Shares of NIO fell by 1.92% and the stock closed the trading week at $42.29. It was still a strong week for the popular Chinese EV maker, as Nio managed to climb higher by 11% over the past five sessions. This is a key time of the year for Nio, as the company seems somewhat fragile coming off a disappointing October delivery report. Nio is also set to report its third quarter earnings on November 9.
Stay up to speed with hot stocks' news!
Just a day after Deutsche Bank analysts reiterated their buy rating for Nio’s stock and provided a bullish $70 price target, the investment firm filed its Form 13F for the quarter, disclosing an even larger stake. Deutsche Bank was already a major investor in Nio, but last quarter the German bank added nearly 1.3 million more shares. This brings Deutsche Bank’s total position up to 7.136 million shares worth an estimated $311 million. Obviously Deutsche Bank’s price target makes more sense now that we are able to see how large of a position the company holds.
NIO stock price
While it hasn’t made any plans to debut its vehicles in China as of yet, Lucid Group (NASDAQ:LCID) is turning heads all over the EV market. On Friday, shares of the newly public electric vehicle company surged by 12.61% as Motortrend released a stunning review of the new sedans. Nio is one of China’s main luxury EV makers, and the potential of this new rival has some Nio investors looking over their shoulders.
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