NIO (NYSE:NIO) Shares Up 2.5% – Time to Buy?

Shares of Nio Inc – (NYSE:NIO) shot up 2.5% during mid-day trading on Friday . The company traded as high as $4.53 and last traded at $4.49. 16,438,614 shares were traded during mid-day trading, a decline of 71% from the average session volume of 56,709,816 shares. The stock had previously closed at $4.38.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup reduced their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Bank of America lifted their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Trading Up 2.3 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The business’s 50-day moving average is $5.41 and its 200 day moving average is $4.87. The firm has a market capitalization of $7.70 billion, a P/E ratio of -2.97 and a beta of 1.91.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC acquired a new stake in NIO during the second quarter worth about $25,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO during the 3rd quarter worth approximately $32,000. Baader Bank Aktiengesellschaft bought a new position in NIO in the second quarter valued at approximately $53,000. Harel Insurance Investments & Financial Services Ltd. raised its position in NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after purchasing an additional 2,651 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of NIO in the 2nd quarter valued at $63,000. Institutional investors own 48.55% of the company’s stock.

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.