Investors are eyeing opportunities amidst volatility in the Chinese stock market. With that in mind, Benzinga highlights three prominent companies currently trading near their 52-week lows.
NIO Inc – ADR NIO, XPeng Inc – ADR XPEV, and Baidu Inc BIDU are among the notable names experiencing downward pressure.
| Symbol | Company Name | Last Price ($) (At 3 PM EDT) | Avg Vol (3 month) | Market Cap | 52-Week Low ($) | 52-Week High ($) | Room To Run % |
| NIO | NIO Inc. | 3.93 | 56.09M | 8.21B | 3.71 | 16.18 | 311.70% |
| XPEV | XPeng Inc. | 7.48 | 14.25M | 7.07B | 6.99 | 23.62 | 215.78% |
| BIDU | Baidu, Inc. | 94.47 | 3.42M | 33.16B | 94.64 | 156.98 | 66.17% |
Nio stock is currently priced at $3.93, a significant drop from its 52-week high of $16.18. This presents a potential upside of 311.70% if the stock were to be seen trading at its 52-week high again.
NIO has recently unveiled the 2024 ET5 sedan and ES7 SUV at the Beijing International Automotive Exhibition. This signals its commitment to advancing manufacturing.
Analysts, with an average price target of $5.4, foresee a 37.11% upside for the stock in 2024. This is based on recent ratings from Macquarie, Barclays and UBS.
XPeng stock trades at $7.48, well below its 52-week high of $23.62. That’s a potential upside of 215.78%.
The company recently announced a framework agreement with Volkswagen AG for technical collaboration on EV platforms in China. The news boosted investor confidence in the stock.
Analysts, with an average price target of $11.33, anticipate a 51.92% upside for 2024. This is based on recent ratings from Macquarie, Morgan Stanley and JP Morgan.
Baidu stock is priced at $94.47, compared to its 52-week high of $156.98, indicating a potential upside of 66.17%.
Recent developments include the success of its AI chatbot, Ernie Bot. The company’s Ernie Bot has amassed over 200 million users, showcasing Baidu’s prowess in AI technology.
Read More: ChatGPT’s China Rival ‘Ernie Bot’ By Baidu Surpasses 200M Users Amid Fierce Competition
Analysts have an average price target of $173, project an 83.13% upside. This is based on recent ratings from Citigroup, Barclays and Benchmark.
While all three stocks are trading at lows, analysts are more bullish on the potential upside for Baidu, with an 83.13% implied increase from current levels.
All three Chinese stocks present unique opportunities for investors.
- NIO’s unveiling of new models and expansion into the low-end market showcases its commitment to innovation and growth.
- XPeng’s collaboration with Volkswagen demonstrates its potential for strategic partnerships and technological advancements in the EV sector.
- Baidu’s AI chatbot success highlights its leadership in artificial intelligence and its efforts to monetize innovative technologies.
Investors looking for potential upside should carefully consider these factors and the respective analyst ratings before making investment decisions about these Chinese companies.
Photo: Nio, Xpeng, courtesy the companies; Baidu via Shutterstock
