NIO (NYSE:NIO) Trading Up 3.5% – Should You Buy?

Nio Inc – (NYSE:NIO) was up 3.5% on Wednesday . The stock traded as high as $4.80 and last traded at $4.79. Approximately 37,864,301 shares were traded during trading, a decline of 33% from the average daily volume of 56,614,902 shares. The stock had previously closed at $4.63.

Analyst Upgrades and Downgrades

NIO has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $6.60 to $4.80 in a research note on Wednesday. Wolfe Research began coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.91.

NIO Stock Performance

The company has a market cap of $8.10 billion, a PE ratio of -3.11 and a beta of 1.91. The stock has a 50 day simple moving average of $5.52 and a two-hundred day simple moving average of $4.91. 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 issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter in the prior year, the business earned ($0.51) EPS. NIO’s quarterly revenue was up 98.9% compared to the same quarter last year. Equities analysts predict that Nio Inc – will post -1.38 EPS for the current year.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. increased its position in NIO by 13.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after purchasing an additional 2,038 shares during the period. Ballentine Partners LLC boosted its position in shares of NIO by 11.5% during the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after purchasing an additional 2,482 shares in the last quarter. Atomi Financial Group Inc. boosted 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 worth $129,000 after purchasing an additional 2,588 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of NIO by 22.0% in the 2nd 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, Assenagon Asset Management S.A. increased its holdings in shares of NIO by 4.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company’s stock valued at $262,000 after purchasing an additional 2,915 shares in the last quarter. Hedge funds and other 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.