NIO (NYSE:NIO) Trading 1.6% Higher – Still a Buy?

Nio Inc – (NYSE:NIO) was up 1.6% during mid-day trading on Thursday . The company traded as high as $4.45 and last traded at $4.38. Approximately 45,288,023 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 56,891,523 shares. The stock had previously closed at $4.31.

Analysts Set New Price Targets

Several research analysts recently weighed in on NIO shares. Bank of America increased their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup dropped their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Daiwa America upgraded shares of 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 on the stock. Finally, Macquarie cut NIO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The stock’s 50-day simple moving average is $5.44 and its two-hundred day simple moving average is $4.88. The firm has a market cap of $7.53 billion, a P/E ratio of -2.90 and a beta of 1.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates 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 net margin of 33.41% and a negative return on equity of 113.83%. The firm’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) EPS. Equities research analysts forecast that Nio Inc – will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Hedge funds have recently bought and sold shares of the business. Ridgewood Investments LLC bought a new position in shares of NIO in the second quarter worth about $25,000. Allspring Global Investments Holdings LLC purchased a new stake in NIO in the 3rd quarter valued at about $32,000. Baader Bank Aktiengesellschaft bought a new position in NIO in the 2nd quarter worth about $53,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after acquiring an additional 2,651 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of NIO during the second quarter valued at approximately $63,000. Institutional investors own 48.55% of the company’s stock.

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.