NIO (NYSE:NIO) Shares Up 4% – Time to Buy?

Shares of Nio Inc – (NYSE:NIO) shot up 4% during trading on Monday . The company traded as high as $4.75 and last traded at $4.67. 16,690,512 shares traded hands during trading, a decline of 70% from the average session volume of 56,446,910 shares. The stock had previously closed at $4.49.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research started coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Finally, Citigroup cut their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.11.

NIO Trading Up 3.6 %

The stock has a 50 day moving average price of $5.57 and a 200 day moving average price of $4.93. The company has a market cap of $7.99 billion, a PE ratio of -3.11 and a beta of 1.91. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

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, meeting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.51) earnings per share. Sell-side analysts predict that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NIO. Ridgewood Investments LLC bought a new stake in shares of NIO in the second quarter worth $25,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of NIO in the third quarter worth about $32,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of NIO in the second quarter worth about $53,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after buying an additional 2,651 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in NIO during the second quarter valued at approximately $63,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.