NIO (NYSE:NIO) Trading 3.9% Higher – Still a Buy?

Shares of Nio Inc – (NYSE:NIO) traded up 3.9% during trading on Tuesday . The stock traded as high as $4.60 and last traded at $4.57. 20,260,662 shares traded hands during trading, a decline of 64% from the average session volume of 56,537,180 shares. The stock had previously closed at $4.40.

Analysts Set New Price Targets

Several brokerages recently issued reports on NIO. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Wolfe Research began coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Citigroup cut their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Two research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Trading Up 5.5 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of -3.10 and a beta of 1.77. The business has a 50-day moving average of $5.39 and a 200-day moving average of $4.86.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). The firm had revenue of $17.45 billion for the quarter, compared to the consensus estimate 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 was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. As a group, research analysts forecast that Nio Inc – will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in NIO in the third quarter valued at about $32,000. Ridgewood Investments LLC bought a new position in shares of NIO during the second quarter worth about $25,000. First Trust Direct Indexing L.P. bought a new stake in NIO in the 3rd quarter valued at about $76,000. Apollon Wealth Management LLC acquired a new position in shares of NIO during the third quarter worth approximately $78,000. Finally, Baader Bank Aktiengesellschaft bought a new position in NIO in the 2nd quarter worth approximately $53,000. 48.55% of the stock is 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.