NIO (NYSE:NIO) Stock Price Up 3.5% – Still a Buy?

Nio Inc – (NYSE:NIO)’s share price rose 3.5% during trading on Tuesday . The company traded as high as $5.34 and last traded at $5.32. Approximately 13,984,592 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 56,536,930 shares. The stock had previously closed at $5.14.

Analyst Ratings Changes

A number of analysts have weighed in on NIO shares. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Wolfe Research began coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Citigroup dropped their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Bank of America upped their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.93.

NIO Stock Performance

The company’s fifty day moving average is $5.19 and its 200 day moving average is $4.82. The company has a market capitalization of $8.97 billion, a P/E ratio of -3.15 and a beta of 1.86. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same period last year, the firm earned ($0.51) EPS. As a group, equities analysts anticipate that Nio Inc – will post -1.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its holdings in NIO by 2.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after purchasing an additional 2,000 shares during the period. Westwood Holdings Group Inc. raised its position in shares of NIO by 13.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after buying an additional 2,038 shares in the last quarter. Atomi Financial Group Inc. raised its position in shares of NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after buying an additional 2,588 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after buying an additional 2,651 shares in the last quarter. Finally, Fountainhead AM LLC raised its position in shares of NIO by 24.1% during the 1st quarter. Fountainhead AM LLC now owns 14,954 shares of the company’s stock valued at $67,000 after buying an additional 2,907 shares in the last quarter. 48.55% of the stock is owned by institutional investors.

About NIO

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.