Investors are looking for opportunities amid China’s stock market volatility. With this in mind, Benzinga highlights three notable companies currently trading near 52-week lows.
NIO Inc – ADR NIO, XPeng Inc – ADR XPEVAND Baidu Inc START they are among the biggest names experiencing downward pressure.
| Symbol | Company Name | Last Price ($) (at 3:00 PM EDT) | Average Vol (3 months) | Market capitalization | 52 week low ($) | 52 week high ($) | Space to run% |
| NIO | NIO Inc. | 3.93 | 56.09 million | 8.21B | 3.71 | 16.18 | 311.70% |
| XPEV | XPeng Inc. | 7.48 | 14.25 million | 7.07B | 6.99 | 11.62pm | 215.78% |
| START | Baidu, Inc. | 94.47 | 3.42 million | 33.16B | 94.64 | 156.98 | 66.17% |
Nio shares are currently priced at $3.93, a significant decline from their 52-week high of $16.18. This presents a potential upside of 311.70% if the stock is seen trading at its 52-week high again.
NIO recently unveiled the 2024 ET5 sedan and ES7 SUV at the Beijing International Automobile Show. This signals its commitment to advancing production.
Analysts, with an average price target of $5.4, expect a 37.11% upside for the stock in 2024. This is based on recent ratings from Macquarie, Barclays and UBS.
XPeng shares are trading at $7.48, well below its 52-week high of $23.62. This is a potential upside of 215.78%.
The company recently announced a framework agreement with Volkswagen AG for technical collaboration on electric vehicle platforms in China. The news strengthened investor confidence in the stock.
Analysts, with an average price target of $11.33, expect an upside of 51.92% for 2024. This is based on recent ratings of 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, demonstrating Baidu’s prowess in AI technology.
Read more: Chinese ChatGPT rival Baidu’s ‘Ernie Bot’ surpasses 200 million users amid fierce competition
Analysts have an average price target of $173, expecting an upside of 83.13%. This is based on recent ratings from Citigroup, Barclays and Benchmark.
While all three stocks are trading at lows, analysts are more optimistic about Baidu’s upside potential, with an implied rise of 83.13% from current levels.
All three Chinese stocks present unique opportunities for investors.
- NIO’s introduction of new models and expansion into the low-end market demonstrates its commitment to innovation and growth.
- XPeng’s collaboration with Volkswagen demonstrates its potential for strategic partnerships and technological advancements in the electric vehicle sector.
- The success of Baidu’s AI chatbot highlights its leadership in artificial intelligence and its efforts to monetize innovative technologies.
Investors looking for potential upside should carefully consider these factors and their respective analyst ratings before making investment decisions on these Chinese companies.
Read next: Tesla slips 4% amid layoff plans and pre-earnings jitters: Stock chart reveals strong downtrend
Photos: Nio, Xpeng, courtesy of the companies; Baidu via Shutterstock