5 Best Stocks to Buy in 2021 According to Louis Navellier

2. Nio Inc. (NYSE: NIO)

Navellier’s Stake Value: $2,539,000
Percentage of Louis Navellier’s 13F Portfolio: 0.45%
No. of Hedge Fund Holders: 28

Nio Inc. (NYSE: NIO) is a Chinese EV manufacturer currently planning to enter the U.S market. The company already has a robust lineup of electric vehicles, including ES8, ES6, and EC6. It also has the most compelling approach to charging, which involves setting up battery swap stations where NIO EV owners can have their batteries swapped in the same amount of time it would fuel an ICE vehicle. The company has already rolled out the subscription-based battery swap project in China.

The company reported that it sold 7,102 vehicles in April 2021, a 125% gain compared to its vehicle deliveries in April in the previous year. The Chinese EV manufacturer reported $1.22 billion in revenue in Q1, 481.8% higher YoY and more than the consensus estimate by $160 million.

Nio Inc. (NYSE: NIO) current Q2 2021 revenue forecast is between $1.24 billion and $1.29 billion. The company is currently receiving subsidies for its battery swapping approach. The company plans to set up battery swapping stations in Norway and other parts of Europe. 

In April, CLSA’s Soobin Park initiated a coverage on Nio and rated the stock as “Buy,” setting the price target at $50.