Clipper Realty Inc
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Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap Blend
Company profile

Clipper Realty, Inc. is a real estate investment trust, which acquires, owns, manages, operates and repositions multi-family residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. The Company's segments include Commercial and Residential. As of June 30, 2016, it owned two residential/retail rental properties at 50 Murray Street and 53 Park Place in the Tribeca neighborhood of Manhattan, referred to as the Tribeca House properties. As of June 30, 2016, it also owned a residential property complex in the East Flatbush neighborhood of Brooklyn consisting of 59 buildings, referred to as the Flatbush Gardens properties or complex. As of June 30, 2016, it owned two primarily commercial properties in Downtown Brooklyn (one of which included 36 residential apartment units), referred to as the 141 Livingston Street property and the 250 Livingston Street property, and also owned the Aspen property.

Price
Delayed
$8.13
Day's Change
0.08 (0.99%)
Bid
--
Ask
--
B/A Size
--
Day's High
8.16
Day's Low
8.07
Volume
(Above Average)

Today's volume of 12,611 shares is on pace to be greater than CLPR's 10-day average volume of 82,968 shares.

12,611

Nio heads deeper into bear market after earnings

11:27 am ET March 2, 2021 (MarketWatch)
Print

By Claudia Assis

NIO 'on track' to lead China's premium EV market

Nio Inc. American depositary receipts headed deeper into a bear market on Tuesday, but Wall Street focused on the Chinese electric-car maker's "impressive" hopes for its first-quarter sales.

Nio (NIO) late Monday reported a 133% jump in fourth-quarter revenue and a wider-than-expected loss. (https://www.marketwatch.com/story/nios-sales-top-2-billion-in-transformational-year-11614639737)The ADRs traded as low as $44.82 on Tuesday and were recently off about 26% from their Feb. 9 record closing high of $62.84, putting them well into bear-market territory.

Nio shares are 5% in the red this year, but have gained 1,045% in the past 12 months, compared with advances of around 3.6% and 26% for the S&P 500 index so far this year and in the last 12 months. Nio hit a 52-week low of $2.37 on March 23, 2020.

Edison Yu with Deutsche Bank highlighted Nio's "impressive" first-quarter guidance, which called for the delivery of about 20,000 to 20,500 vehicles, an increase between 15% and 18% from the fourth quarter's deliveries. It guided for revenue between $1.13 billion and $1.16 billion for the quarter.

The delivery expectations outline "a very real path to (more than 100,000) deliveries this year, he said.

"We believe this reflects growing awareness and appreciation of its aspirational brand and ecosystem, putting NIO on track to be a market leader in the China premium segment," Yu said.

The goal of delivering 100,000 is "achievable," he added.

Dan Ives at Wedbush said that Nio's "robust" fourth-quarter results "speaks to a transformational EV opportunity playing out in China." The EV-maker has "massive tailwinds into 2021 as the golden age of EVs takes hold with Tesla, Nio, Xpeng (XPEV), Li Auto (LI), and others leading the charge in this Chinese market opportunity."

Ives said the first-quarter delivery guidance was a positive preview for overall demand in the year. Headwinds include the chip shortages' (https://www.marketwatch.com/story/worldwide-chip-shortage-expected-to-last-into-next-year-and-thats-good-news-for-semiconductor-stocks-11614020156) continued impact on global auto markets and Tesla Inc.'s recent price cuts.

"The Chinese EV market is set to go from 4.5% penetration to 10% in the next 2 years based on our forecasts, as consumer appetite for EV vehicles across the board is jaw dropping and will benefit well positioned domestic vendors as well as foreign players (Tesla (TSLA), Ford (F), GM (GM), etc.)," Ives said.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

March 02, 2021 11:27 ET (16:27 GMT)

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