Today's dip may be a good time to buy NIO shares
Nio stock is sliding lower on Thursday after rallying earlier this week and that has some investors wondering if the stock is a buy.
If you listen to analysts, then Nio stock is a buy! Of the 14 analysts that cover the shares, 13 hold a “buy” rating for NIO while only a single analyst has a “hold” rating. Also, the consensus price target is sitting at $50.28, as compared to its $22.17 closing price yesterday.
While that’s great news for investors in NIO stock, you might be looking for more in-depth insight into the electric vehicle (EV) company. That’s where our own group of experts comes into play!
Is NIO Stock a Buy?: The Bull Take
“Nio represents a value buy for long-term focused investors. All pointers are toward an extended period of outperformance in terms of revenue and profitability.” — Shanthi Rexaline
“Long-term, NIO could be a substantial winner. At the moment, I’d use weakness as a buy opportunity.” — Ian Cooper
“In all probability, the worst seems to be over for NIO stock. It has already surged from recent lows. I believe the positive momentum is likely to sustain, as Nio reported healthy deliveries and improvement in its vehicle margin.” — Faisal Humayun
Is NIO Stock a Buy?: The Bear Take
“I would be cautious about NIO stock. Yes, the discount is tempting — I will grant anyone that. However, I also believe there’s wisdom in keeping the powder keg dry.” — Josh Enomoto
“So, what’s the verdict with this EV play? You may want to tread carefully with Nio stock after its run-up in price. Many factors could send it lower again.” — Thomas Niel
NIO stock is down 5% on Thursday and is down 37% since the start of the year.
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