NIO (NYSE:NIO) Shares Up 4% – Time to Buy?

Nio Inc – (NYSE:NIO) shares were up 4% during trading on Monday . The company traded as high as $4.75 and last traded at $4.67. Approximately 16,690,512 shares changed hands during trading, a decline of 70% from the average daily volume of 56,446,910 shares. The stock had previously closed at $4.49.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NIO shares. Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.60 target price on the stock in a research report on Monday, October 28th. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Citigroup reduced their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIO has a consensus rating of “Hold” and a consensus target price of $6.11.

NIO Trading Up 3.6 %

The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $5.57 and a 200-day moving average of $4.93. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of -3.11 and a beta of 1.91.

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

Hedge Funds Weigh In On NIO

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO during the third quarter worth $32,000. Ridgewood Investments LLC purchased a new stake in shares of NIO in the second quarter valued at about $25,000. First Trust Direct Indexing L.P. purchased a new position in NIO during the third quarter worth about $76,000. Apollon Wealth Management LLC purchased a new position in NIO during the third quarter worth about $78,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in NIO during the second quarter worth approximately $53,000. Institutional investors and hedge funds 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.