NIO (NYSE:NIO) Trading 2.6% Higher – Still a Buy?

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

Wall Street Analyst Weigh In

Several research firms have weighed in on NIO. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Citigroup dropped their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research note on Wednesday. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.91.

NIO Trading Up 2.6 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market capitalization of $8.29 billion, a P/E ratio of -3.20 and a beta of 1.91. The company has a 50-day simple moving average of $5.52 and a 200 day simple moving average of $4.91.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting the consensus estimate 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 period in the prior year, the company earned ($0.51) EPS. The business’s quarterly revenue was up 98.9% compared to the same quarter last year. Sell-side analysts expect that Nio Inc – will post -1.38 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO during the 3rd quarter worth approximately $32,000. Ridgewood Investments LLC acquired a new stake in NIO during the second quarter worth $25,000. First Trust Direct Indexing L.P. bought a new stake in NIO in the 3rd quarter valued at $76,000. Apollon Wealth Management LLC acquired a new position in shares of NIO in the 3rd quarter valued at $78,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of NIO during the 2nd quarter worth about $53,000. 48.55% of the stock is currently owned by institutional investors.

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.