NIO (NYSE:NIO) Trading Up 1.6% – Time to Buy?

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

Analyst Upgrades and Downgrades

NIO has been the subject of several recent research reports. Citigroup reduced their price target on shares of 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 downgraded shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $4.80 to $3.90 in a research note on Monday. Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. Wolfe Research began coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.71.

NIO Trading Up 1.6 %

The firm has a market cap of $7.53 billion, a PE 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. The stock’s fifty day simple moving average is $5.44 and its 200-day simple moving average is $4.88.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same period last year, the business posted ($0.51) earnings per share. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. On average, sell-side analysts forecast that Nio Inc – will post -1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC purchased a new position in shares of NIO during the 2nd quarter valued at about $25,000. Allspring Global Investments Holdings LLC acquired a new position in NIO in the third quarter valued at approximately $32,000. Baader Bank Aktiengesellschaft purchased a new stake in NIO in the 2nd quarter worth approximately $53,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the period. Finally, Caprock Group LLC purchased a new position in shares of NIO during the 2nd quarter valued at approximately $63,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.