Nio Inc. ( NIO )shares climbed in premarket trading Monday, as the company’s battery-swap network notched multiple single-day records during the 2026 Spring Festival period.

Record Battery-Swap Activity Fuels Momentum

The Chinese electric vehicle maker set multiple single-day records for its battery-swap service during the 2026 Spring Festival between Feb. 15 to 23, peaking at 177,627 daily swaps.

It is the sixth time in February alone that it broke its own historical record, signaling robust demand for its swap infrastructure, reported CnEV Post.

Nio said drivers completed 146,649 battery swaps on Feb. 15 to kick off the holiday stretch. The company’s cumulative swap count crossed 100 million earlier this month, with its 3,750 nationwide swap stations — more than 1,000 of them along expressways — absorbing the surge in holiday travel.

Software Recall Adds An Overhang

Despite the upbeat operational metrics, Nio is managing a software-related recall affecting more than 246,000 vehicles, including ES8, ES6, and EC6 models produced between March 2018 and January 2023.

China’s State Administration for Market Regulation flagged the issue, which may briefly darken key display screens.

Technical Analysis

Over the past 12 months, NIO has seen a gain of 16.28%, reflecting a positive trend in the longer term. The stock is currently positioned between its 52-week high of $8.02 and low of $3.02, closer to the midpoint but with a bullish bias given its recent performance.

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the March 20, earnings report. Here’s what to expect:

EPS Estimate: Loss of 7 cents (Up from a loss of 43 cents YoY)

Revenue Estimate: $4.61 billion (Up from $2.70 billion YoY)

Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $7.62. Recent analyst moves include:

Freedom Capital Markets: Upgraded to Buy (Raises Target to $7.00) (Nov. 28, 2025)

Barclays: Underweight (Raises Target to $4.00) (Nov. 28, 2025)

Citigroup: Buy (Lowers Target to $6.90) (Nov. 26, 2025)

NIO Price Action: Nio shares were up 2.56% at $5.20 during premarket trading on Monday, according to Benzinga Pro data.