NIO (NYSE:NIO) Stock Price Up 9.2% – Time to Buy?

NIO Inc. (NYSE:NIO) rose 9.2% during mid-day trading on Wednesday . The stock traded as high as $5.82 and last traded at $5.7450. Approximately 91,903,915 shares changed hands during trading, an increase of 113% from the average daily volume of 43,122,254 shares. The stock had previously closed at $5.26.

Analyst Ratings Changes

NIO has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. HSBC raised NIO from a “hold” rating to a “buy” rating and increased their target price for the company from $4.80 to $6.80 in a research report on Friday, March 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Finally, Nomura raised NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price on the stock in a research report on Wednesday, March 11th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, NIO has a consensus rating of “Hold” and an average price target of $6.70.

NIO Price Performance

The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of -10.45 and a beta of 0.97. The stock has a 50-day moving average price of $6.06 and a two-hundred day moving average price of $5.46.

NIO (NYSE:NIO) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $4.95 billion during the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%. As a group, equities research analysts forecast that NIO Inc. will post -0.2 EPS for the current year.

Institutional Trading of NIO

A number of institutional investors have recently made changes to their positions in NIO. Atlantic Union Bankshares Corp raised its stake in NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after acquiring an additional 2,950 shares during the last quarter. Allworth Financial LP raised its stake in NIO by 183.5% in the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after acquiring an additional 4,269 shares during the last quarter. Merkkuri Wealth Advisors LLC purchased a new position in NIO in the 1st quarter worth $41,000. Arax Advisory Partners raised its stake in NIO by 81.6% in the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after acquiring an additional 3,487 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in NIO by 120.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock worth $48,000 after acquiring an additional 4,383 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.