Streetbeat News

BYDDY

BYD Co

http://www.byd.com/

Open

67.72

Mkt cap

110B

Volume

46K

High

67.93

P/E Ratio

21.07

52-wk high

83.67

Low

67.45

Div yield

0.01

52-wk low

43.62

Analysts predict a potential spike in the stock price of China's largest EV maker, BYD Company Limited (OTC:BYDDF) (OTC:BYDDY), due to rising sales, improving margins, and rapid overseas expansion. Despite underperforming compared to peers like Tesla Inc (NASDAQ:TSLA), XPeng Inc (NYSE:XPEV), and Li Auto Inc (NASDAQ:LI), BYD is seen as undervalued. The company's battery business, which supplies many EV manufacturers and holds 16% of the global EV battery market, has helped maintain profit margins over 18%. DBS Bank and Livy Investment Research have bullish outlooks for BYD, citing strong vehicle sales, a net cash balance of $8.4 billion, partnerships with companies like Apple Inc (NASDAQ:APPL), and a solid overseas market strategy.

Portfolio Pulse from Daniel Harrison

October 16, 2023 | 2:09 pm

Nio Inc. (NYSE:NIO) has entered the insurance business by acquiring Anhui-based Huiding Insurance Broker Company Limited, now renamed as Nio Insurance Broker Company Limited. This move aligns Nio with other Chinese EV manufacturers like Li Auto Inc (NASDAQ:LI), BYD Company Limited (OTC:BYDDY), and Xpeng Inc (NYSE:XPEV) who have their own insurance subsidiaries. Nio's sales have been increasing, delivering 50% more vehicles in September in China than the previous year.

Portfolio Pulse from Daniel Harrison

October 13, 2023 | 1:23 pm

China's state-owned fund Central Huijin Investment Ltd. has bought $65.7 million in shares of Bank of China Ltd., China Construction Bank Corp, Agricultural Bank of China Ltd., and Industrial & Commercial Bank of China Ltd., raising its stake in each bank by ten basis points. The fund plans to continue these purchases over the next 6 months. Meanwhile, property developer stocks fell due to gloomy data from the Hong Kong home market, and EV stocks rose on positive sentiment. The report also mentioned that Chinese companies are gradually returning to list on US exchanges, albeit at a slower pace.

Portfolio Pulse from Daniel Harrison

October 12, 2023 | 3:54 pm

The UAW strike against General Motors (GM), Ford Motor (F), and Stellantis (STLA) is nearing its fourth week. All three automakers have offered wage increases and agreed to cut the timeline to reach top wage rate. GM has allowed workers at joint-venture battery plants to be covered by union contracts. The strike has led to layoffs and cost the U.S. economy $5.5 billion. Tesla (TSLA) is also facing challenges with a drop in China-made EV sales and a probe by the European Commission.

Portfolio Pulse from Upwallstreet

October 11, 2023 | 3:28 pm

China's international policy stance and its reaction to global events, particularly the Hamas attacks in Israel, could potentially affect its trade growth and global status as a major trading partner. The country's focus on improving its international relations is crucial as its economic growth seems to be declining. The International Monetary Fund has revised down China's growth prospects for this year and next to 4.2%. Despite the country's property rout over the past year, exporter stocks such as PetroChina, Li Auto, BYD, XPeng have offered investors a silver lining as the Chinese government has invested heavily in its energy and innovation sectors.

Portfolio Pulse from Daniel Harrison

October 11, 2023 | 2:30 pm

China's Golden Week Holiday spending fell short of government expectations, with consumer spending and home sales data affecting markets. Goldman Sachs Group Inc. predicts a protracted recovery for China's economy. Property developers Country Garden Holdings Limited and Hysan Development Company Limited are planning debt restructuring and offering respectively. China Evergrande's EV spin-off, China Evergrande New Energy Vehicle Group Limited, dropped 9% after a trading suspension was lifted. EV companies XPeng Inc, Li Auto Inc, and NIO Inc. saw their stocks fall, while BYD Company Limited reported strong sales.

Portfolio Pulse from Daniel Harrison

October 09, 2023 | 8:02 pm

Tesla, Inc. (NASDAQ:TSLA) stock is facing headwinds in premarket trading due to geopolitical tensions and concerns over the Israel-Hamas conflict potentially disrupting oil supplies. The company's stock is also affected by a decrease in China sales and concerns over price cuts and delays in the launch of the Cybertruck. In premarket trading, Tesla declined by 1.65%, trading at $256.22.

Portfolio Pulse from Shanthi Rexaline

October 09, 2023 | 11:07 am

China International Marine Containers (CIMC) reported worse-than-expected H1 2023 earnings due to macroeconomic pressures, with revenue down 16% YoY. However, its EV subsidiary, CIMC Vehicles, saw a 20% increase in revenue. The overall poor performance of CIMC impacted its stock, while the success of CIMC Vehicles boosted its shares. Other exporter-related shares and energy-efficient vehicle stocks showed mixed results.

Portfolio Pulse from Daniel Harrison

October 05, 2023 | 4:18 pm

Ford Motor Co (NYSE:F) has announced that negotiations with a potential investor for its Saarlouis plant in Germany have stalled, reigniting concerns about the plant's future and the jobs of its workforce. The unidentified investor had entered a provisional agreement in June but has now chosen to discontinue talks. This follows Ford's decision to favor a Spanish location for the assembly of its forthcoming electric vehicle, implying the Saarlouis location will cease production of the Ford Focus by 2025. Ford plans to retain 1,000 positions at the location under a new plan, potentially transforming it into a technology hub.

Portfolio Pulse from Shivani Kumaresan

October 05, 2023 | 3:50 pm

Hong Kong shares fell due to fears of a challenging climate for Chinese exporters and property market issues. Chinese exports fell 8.8% YoY in August, with shipments to the US down 9.5%. Shares of Fosun International, Sinopec Shanghai Petrochemical, PetroChina, Alibaba, and CMOC Group were down 1-2%. EV makers BYD, Li Auto, and NIO also saw declines. Real estate sales from China's top 100 developers were down 29.9% YoY in September. China SCE Group defaulted on $1.8 billion of offshore bonds, and China Evergrande Group's shares plunged 12%.

Portfolio Pulse from Daniel Harrison

October 04, 2023 | 8:13 pm

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