NIO (NYSE:NIO) Trading 9.9% Higher – Time to Buy?

Nio Inc – (NYSE:NIO)’s stock price rose 9.9% during trading on Monday . The company traded as high as $5.81 and last traded at $5.78. Approximately 38,130,816 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 56,487,414 shares. The stock had previously closed at $5.26.

Analysts Set New Price Targets

A number of analysts have weighed in on NIO shares. Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective for the company in a research report on Monday. Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Bank of America lifted their target price 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. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.11.

NIO Stock Performance

The stock has a 50-day simple moving average of $5.29 and a 200-day simple moving average of $4.84. The stock has a market cap of $10.04 billion, a PE ratio of -3.42 and a beta of 1.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.21). The firm 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%. The company’s revenue was up 98.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) EPS. Equities analysts predict that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors have recently added to or reduced their stakes in NIO. Ridgewood Investments LLC purchased a new stake in shares of NIO in the second quarter worth about $25,000. Allspring Global Investments Holdings LLC acquired a new stake in NIO in the third quarter valued at approximately $32,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of NIO during the second quarter valued at approximately $53,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of NIO by 22.0% in 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 during the period. Finally, Caprock Group LLC acquired a new stake in NIO during the 2nd quarter valued at $63,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.