Nio stock is likely overvalued.
The Chinese EV sector is the largest new-car market in the world, according to Barron's. Barron's says that the average price target on NIO stock for analysts with “buy” ratings is $17. Nio has shown that it can survive. Now it must show that it can thrive.
2020 has been a solid year for Nio (NYSE:NIO), the Chinese electric vehicle (EV) maker. Since the start of the year, the stock is up over 900%. Put another way, the proverbial $1,000 invested in early January would now be worth well over $10,000.
NIO Stock: Why Nio Shares Are Plunging TodayShares of Nio (NYSE:NIO) are dropping on Monday morning after the China-based electric vehicle manufacturer increased the size of a NIO stock secondary offering by 13% and priced it at a discount.
U.S.-listed shares of Chinese electric carmaker NIO Inc, a rival to Tesla Inc, tumbled more than 18% on Tuesday, after the company posted a drop in quarterly vehicle sales, citing slowing growth due to U.S.-China trade war.
Year over year, Nio more than doubled deliveries of its premium electric vehicles in December. It also more than doubled sales for the fourth quarter and for all of 2020, as overall Chinese EV boomed after a pandemic hit at the start of last year. Shares earn a superior IBD Composite Rating of 95 out of 99.
Chinese electric car maker NIO is now worth over $70 billion despite delivering just over 12,000 cars in the third quarter. Nikola is still worth over $10 billion despite accusations of fraud and having no revenue at all.
While both companies trade at a similar valuation, with a price-to-sales multiple of about 13.5x based on projected 2020 Revenue, Nio is growing more quickly, but Tesla might be the safer bet. Tesla sales grew by just 15% last year and could potentially pick up to 30% in 2020.
Chinese electric-car maker Nio Inc. is pitting itself further against market leader Tesla Inc., unveiling its first sedan in direct competition with the U.S. company's most popular model and other international rivals.
The stocks of the three Chinese start-ups, all listed in New York, have soared — Nio was one of the best-performing U.S.-listed Chinese companies in 2020 with gains of more than 1,100%.
NIO Daily Chart (2018 – 2020)The stock came public on U.S. exchanges at $6.00 in September 2018 and topped out in the next session at $13.80. Price action held within a narrow trading range, with support at the IPO opening print, into a March 2019 breakdown that established a new downtrend.
Rivian isn't a publicly-traded company. The company is held privately between the founder and investors. Since the company isn't publicly traded, investors can't buy the stock.
One market laggard in recent years has been Chinese electric vehicle maker Nio Inc - ADR (NYSE: NIO). Nio held its U.S. IPO back in September of 2018, selling IPO shares at $6.26 and raising $1 billion.
Top 10 Owners of Tesla Inc
| Stockholder | Stake | Sharesowned |
|---|
| Capital Research & Management Co. | 5.51% | 52,248,658 |
| The Vanguard Group, Inc. | 4.38% | 41,481,097 |
| Baillie Gifford & Co. | 3.66% | 34,706,535 |
| BlackRock Fund Advisors | 2.74% | 25,950,983 |
HC Wainwright is very positive to
BLNK and gave it a "
Buy" rating on June 14, 2020. The price target was set to $5.00.
Predicted Opening Price for Blink Charging Co of Monday, January 11, 2021.
| Fair opening price January 11, 2021 | Current price |
|---|
| $44.04 | $43.91 (Undervalued) |
