NIO (NYSE:NIO) Shares Up 1.2% – Should You Buy?

Nio Inc – (NYSE:NIO) shot up 1.2% during trading on Wednesday . The company traded as high as $4.45 and last traded at $4.36. 20,800,565 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 56,769,750 shares. The stock had previously closed at $4.31.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup reduced their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $4.80 to $3.90 in a research note on Monday. 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 report on Thursday, September 5th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.71.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company has a market capitalization of $7.55 billion, a PE ratio of -2.91 and a beta of 1.91. The company has a 50 day moving average of $5.45 and a two-hundred day moving average of $4.89.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). The business 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%. NIO’s quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. As a group, equities research analysts predict that Nio Inc – will post -1.39 earnings per share for the current year.

Institutional Trading of NIO

Large investors have recently made changes to their positions in the stock. FMR LLC increased its holdings in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of 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 in the last quarter. Swedbank AB purchased a new position in NIO during the first quarter valued at approximately $5,343,000. Point72 Hong Kong Ltd purchased a new stake in NIO during the third quarter worth $4,879,000. Finally, Quadrature Capital Ltd boosted its position in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after acquiring an additional 538,907 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.