NIO (NYSE:NIO) Shares Up 2.6% – Time to Buy?

Nio Inc – (NYSE:NIO)’s share price rose 2.6% on Friday . The stock traded as high as $4.84 and last traded at $4.82. Approximately 17,736,797 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 56,676,125 shares. The stock had previously closed at $4.70.

Analysts Set New Price Targets

A number of brokerages have issued reports on NIO. Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. Bank of America upped their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup reduced their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Wolfe Research initiated coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $6.60 to $4.80 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NIO has a consensus rating of “Hold” and an average target price of $5.91.

NIO Stock Performance

The firm has a market cap of $8.32 billion, a P/E ratio of -3.21 and a beta of 1.91. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.01 and a current ratio of 1.04. The business’s 50-day simple moving average is $5.49 and its 200 day simple moving average is $4.90.

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

Institutional Investors Weigh In On NIO

A number of hedge funds have recently modified their holdings of NIO. Point72 Asset Management L.P. grew its holdings in NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the period. FMR LLC increased its holdings in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares in the last quarter. Krane Funds Advisors LLC increased its stake in shares of NIO by 31.7% in the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after purchasing an additional 370,556 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after purchasing an additional 343,910 shares during the period. 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.