NIO Stock News and Price Prediction: NIO deliveries rocket higher in March
- Nio announces record deliveries for Q1 2022.
- NIO stock soars as March deliveries rise 61% versus February.
- Nio share price spikes to $22.37 in premarket, up 6%.
Nio stock (NIO) is spiking on Friday in the premarket as the company announces record deliveries for the first quarter of 2022. The Chinese EV maker has seen its stock pop as a result, and shares in other Chinese EV makers are also moving higher.
NIO Stock News: Deliveries surge
NIO announced March 2022 deliveries of 9,985 vehicles. This represents a jump of 61% versus February and is nearly 38% higher than February of last year. NIO delivered 25,768 vehicles for the first quarter. NIO had previously guided for deliveries to be in the range of 25-26k for Q1, so this number is close to the top of that guidance. Other Chinese EV makers have also announced strong delivery numbers this morning.
XPeng (XPEV) said its March deliveries totaled 15,414, up 202% from last year. XPeng Q1 deliveries hit 34,561, which was a gain of nearly 160% from the same period last year. XPeng stock is currently nearly 9% higher in Friday's premarket. XPeng has recently raised prices for its vehicles in response to rising input costs and supply chain issues.
Nio has not opted to raise prices, but NIO stock has suffered in the face of growing investor enmity toward Chinese stocks amid regulatory and delisting concerns. China has attempted to stem the tide in this respect with verbal intervention suggesting it will support overseas listings. The situation is not yet clarified as the US said more clarity will be needed, but it does mark a policy shift from China. Nio is a strong company with a solid balance sheet. The latest data shows it has over $13 billion in cash and assets on its balance sheet. Revenue growth has been strong with revenues growing by over 100% in the past two years.
NIO Stock Forecast
NIO stock closed lower on Friday but did hold the 9-day moving average support. This catalyst should now stabilize recent losses and provide some tailwind to test the recent high at $23.86. Breaking this will then bring $26.41 into sight.
NIO stock chart, daily
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Author
Ivan Brian
FXStreet
Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.
