NIO (NYSE:NIO) Shares Up 3.5% – Still a Buy?

Nio Inc – (NYSE:NIO) shot up 3.5% during mid-day trading on Tuesday . The company traded as high as $5.34 and last traded at $5.32. 13,984,592 shares were traded during trading, a decline of 75% from the average session volume of 56,536,930 shares. The stock had previously closed at $5.14.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NIO. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Wolfe Research began coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Citigroup decreased their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Bank of America raised their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average target price of $5.93.

NIO Price Performance

The company has a market capitalization of $8.97 billion, a P/E ratio of -3.15 and a beta of 1.86. The company’s 50-day moving average price is $5.19 and its two-hundred day moving average price is $4.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The business had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter in the prior year, the business posted ($0.51) earnings per share. NIO’s revenue was up 98.9% compared to the same quarter last year. As a group, sell-side analysts expect that Nio Inc – will post -1.37 EPS for the current year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its position in NIO by 164.3% in 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 buying an additional 4,018,659 shares in the last quarter. Swedbank AB bought a new position in NIO in the first quarter valued at about $5,343,000. AMF Tjanstepension AB boosted its stake in shares of NIO by 132.4% during the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after purchasing an additional 889,900 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of NIO by 64.6% during the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after purchasing an additional 744,067 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after buying an additional 535,400 shares during the last quarter. 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.