NIO (NYSE:NIO) Stock Price Up 2.5% – Still a Buy?

Nio Inc – (NYSE:NIO) shot up 2.5% during mid-day trading on Friday . The company traded as high as $4.53 and last traded at $4.49. 16,438,614 shares traded hands during trading, a decline of 71% from the average session volume of 56,709,816 shares. The stock had previously closed at $4.38.

Wall Street Analyst Weigh In

NIO has been the subject of a number of recent research reports. Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $4.80 to $3.90 in a research report on Monday. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Bank of America increased their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.71.

NIO Trading Up 2.3 %

The company has a fifty day moving average of $5.42 and a 200-day moving average of $4.88. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of -2.97 and a beta of 1.91.

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

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in NIO in the 3rd quarter valued at about $32,000. Ridgewood Investments LLC acquired a new stake in shares of NIO in the second quarter valued at approximately $25,000. First Trust Direct Indexing L.P. acquired a new stake in shares of NIO in the third quarter valued at approximately $76,000. Apollon Wealth Management LLC purchased a new position in NIO during the third quarter worth approximately $78,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in NIO during the second quarter worth $53,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.