NIO (NYSE:NIO) Stock Price Up 1.2% – Should You Buy?

Nio Inc – (NYSE:NIO)’s share price shot up 1.2% during trading on Wednesday . The company traded as high as $4.45 and last traded at $4.36. 20,800,565 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 56,769,750 shares. The stock had previously closed at $4.31.

Analyst Ratings Changes

A number of brokerages have issued reports on NIO. Bank of America boosted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of -2.91 and a beta of 1.91. The company’s 50 day moving average is $5.45 and its 200 day moving average is $4.89.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). The firm had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm’s revenue was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. Research analysts anticipate that Nio Inc – will post -1.39 EPS for the current fiscal year.

Institutional Trading of NIO

Hedge funds have recently bought and sold shares of the company. FMR LLC increased its position in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares in the last quarter. Swedbank AB acquired a new position in shares of NIO during the first quarter worth about $5,343,000. Point72 Hong Kong Ltd purchased a new stake in shares of NIO in the third quarter worth about $4,879,000. Finally, Quadrature Capital Ltd grew its stake in shares of NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after buying an additional 538,907 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.