Text size
Getty Images
NIO
the year had a strong end.
The Chinese electric vehicle maker delivered 7,007 vehicles in December. That rose from 5,291 in November and up 121% compared to December 2019, according to the company.
Getting a consensus delivery number can be a little tricky
NIO
(ticker: NIO) and other Chinese EV reps. Most analysts are based in Asia and it is difficult to gather a consensus.
Tesla
For example (TSLA) delivered more than 180,000 vehicles in the fourth quarter which was better than the 176,000 analysts expected.
However, the NIO figure looks pretty strong, even without an analyst consensus to compare it as well. Analysts thought the 5,000-plus delivery figure in November was strong.
Despite the strong number in November, NIO stock fell more than 10% on the day it was released. It can be difficult to call a stock price response for superstructure shares. NIO stocks, after all, rose more than 1,100% in 2020.
Stocks, sometimes sometimes, fall on good news in bull markets. Then, often, investors buy the dip. EV stocks are definitely in the bull market. Tesla rose about 740% in 2020 and is now the most valuable car company in the world by a wide margin.
The benefits have left the department expensive and Barron’s recently wrote that Chinese EV stocks were too expensive for us. That article appeared in mid-December and EV Chinese stocks, on average, trade about where they made back then.
Analysts, for the most part, disagree Barron’s. More than 60% of analysts rate the three Chinese EV stocks – NIO,
Li Auto
(LI) and
XPeng
(XPEV) —Buy. The average Buy ratio for stocks in the
Dow Jones business average
it is about 57%.
For NIO, 65% of analysts cover the company’s Buy rate rate. While the average analytics price target is around $ 46 per share. NIO 2020 stock closed at $ 48.74.
Monday should be an interesting day. Investors have recently demanded Tesla Model Y prices in China to deal with. Model Y is priced under NIO EC6. That may be a concern, but the delivery numbers are good.
Looking no further than Monday, NIO will unveil a new sedan around January 9th.
There is no shortage of data points for EV investors to dig early in the new year.
Write to Al Root at [email protected]