TLDR
- NIO stock gained 4.92% on Thursday to close at $7.47, approaching its 52-week high of $7.71
- Citigroup raised its price target to HK$65.90 and added NIO to its 30-day upside catalyst watch
- The company’s new ES8 SUV sold out its 40,000 unit production capacity due to strong demand
- New ES8 orders now face a 24-26 week waiting period with delivery expected by March 2026
- NIO opened preorders for the ES8 line, featuring six-seat and seven-seat models at lower prices
NIO stock climbed 4.92% on Thursday to close at $7.47 per share. The Chinese electric vehicle maker hit an intraday high of $7.68, just three cents below its 52-week high of $7.71.
This marked the fourth consecutive day of gains for the stock. The rally came after Citigroup issued a bullish rating update earlier in the week.
On Wednesday, Citigroup raised its price target for NIO’s Hong Kong shares to HK$65.90 from HK$62.50. The investment bank maintained its “buy” rating on the stock.
Citi also added NIO to its 30-day upside catalyst watch. This indicates the firm expects rapid price movement in the short term.
The analyst upgrade helped spark renewed investor confidence. This came despite NIO announcing a potential delay in ES8 deliveries over the weekend.
Production Capacity Sold Out
NIO revealed that its newly launched ES8 SUV has sold out its entire 40,000 unit production capacity. The strong demand caught the company by surprise.
New orders for the ES8 now face a waiting time of 24 to 26 weeks. Customers placing orders today can expect delivery as early as March 2026.
The ES8 represents NIO’s entry into the three-row SUV market. The vehicle will become the largest battery-based electric SUV available in China upon its release.
NIO opened preorders for the ES8 line in August. The company offers both six-seat and seven-seat configurations.
The new ES8 models launch at lower price points than previous versions. This pricing strategy could help drive broader adoption of NIO vehicles.
Market Performance Context
NIO’s stock has been on a hot streak in recent months. Shares are up approximately 40% over the last three months.
The company’s market capitalization now stands at roughly $12.4 billion. This makes it one of the more valuable Chinese EV manufacturers.
Thursday’s gains came despite broader market weakness. The S&P 500 declined 0.5% while the Nasdaq fell by a similar margin.
NIO posted year-over-year sales growth of 21.5% in the first quarter. The introduction of new SUV models could help maintain this sales momentum.
The company is scheduled to release second-quarter earnings on September 2. Results will be published before market open.
