Nio (NYSE: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 4.9% as of Thursday afternoon and is down 37% since the start of the year.
There’s more stock market news for investors to dive into below!
We’ve got all the latest stock news traders need to know about for Thursday! A few examples include what has Longeveron (NASDAQ:LGVN) stock soaring, why Digital World Acquisition Corp. (NASDAQ:DWAC) stock is falling, as well as a downgrade for Advanced Micro Devices (NASDAQ:AMD) stock. You can find all of this news at the following links!
More Stock Market News for Thursday
- Alzheimer’s News: Why Is Drugmaker Longeveron (LGVN) Soaring Today?
- Why Is Digital World (DWAC) Stock Down Today?
- AMD Stock Downgrade: Why Barclay’s Thinks the Chip Company Is Headed Lower
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
