NIO (NYSE:NIO) Trading 3.3% Higher – Time to Buy?

Nio Inc – (NYSE:NIO)’s share price rose 3.3% during trading on Tuesday . The stock traded as high as $5.38 and last traded at $5.31. Approximately 15,323,737 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 56,483,656 shares. The stock had previously closed at $5.14.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.11.

NIO Trading Up 2.7 %

The firm has a market cap of $9.08 billion, a price-to-earnings ratio of -3.49 and a beta of 1.91. The business has a fifty day moving average of $5.45 and a two-hundred day moving average of $4.89. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. NIO’s revenue was up 98.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.51) earnings per share. As a group, equities analysts expect that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NIO. Renaissance Technologies LLC purchased a new position in shares of NIO in the 2nd quarter worth $1,076,000. International Assets Investment Management LLC boosted its position in NIO by 580.9% in the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after buying an additional 334,723 shares during the last quarter. Signaturefd LLC grew its stake in shares of NIO by 16.9% during the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock valued at $325,000 after acquiring an additional 7,014 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after acquiring an additional 343,910 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in NIO by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after purchasing an additional 439,474 shares during the last quarter. 48.55% of the stock is currently 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.