NIO Inc ( NIO ) shares are trading higher Thursday after the company’s new ES8 SUV went on display in showrooms across China.

What To Know: Nio is debuting its new ES8 SUV at a launch event in China on Thursday. In preparation for the event, the SUV has entered showrooms and is on display in more than 300 retail stores across China, according to CnEVPost.

The large SUV will be available in six-seat and seven-seat versions and start at a price of RMB 400,000 ($55,730) under the battery rental plan. The vehicle’s official launch will take place when it’s featured at Nio Day 2025 in September.

Nio said earlier this month that deliveries declined to 21,017 vehicles in July from 24,925 in June. The deliveries consisted of 12,675 vehicles from the Nio brand, 5,976 vehicles from the Onvo brand and 2,366 vehicles from the company’s Firefly brand. 

Nio announced this week that it will report second-quarter financial results before the market open on Sept. 2. Analysts expect the company to report a loss of 30 cents per share and revenue of $2.76 billion, according to Benzinga Pro estimates.

Analyst ratings show mixed sentiment, with JPMorgan maintaining a Neutral rating with a $5 price target on Aug. 14 and Goldman Sachs maintaining a Neutral rating and Barclays maintaining an Underweight rating with a $3 price target.

The stock shows strong momentum, currently testing resistance at $5.50, with support established at $5.00. The RSI is calculated at 65.12, approaching overbought territory, which could signal a potential pullback if momentum wanes. MACD is bullish, with the MACD line at 0.15 and the signal line at 0.10, indicating positive momentum but with a slight convergence that could suggest caution.

Benzinga Edge rankings show weak fundamentals, with Value ranking 32.34/100, Growth ranking 14.32/100 and Momentum ranking 81.36/100. Overall, while the momentum rank is strong, the low value and growth rankings indicate potential concerns regarding the stock’s underlying fundamentals.

NIO Price Action: Nio shares were up 3.55% at $5.25 at the time of publication Thursday, according to Benzinga Pro.

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