NIO (NYSE:NIO) Sees Strong Trading Volume - Still a Buy?

Key Points

• NIO's trading volume reached 52.25 million shares, a 5% decrease from the previous session, with the stock last trading at $6.29.
• Analysts have varying ratings for NIO, with one firm giving a Strong Buy rating, while the average consensus rating is Hold with a price target of $5.21.
• Institutional investors have significantly increased their positions in NIO, with UBS AM raising their stake by 3,966.7% in the first quarter.

NIO Inc. (NYSE:NIO - Get Free Report) saw strong trading volume on Tuesday . 52,249,167 shares were traded during mid-day trading, a decline of 5% from the previous session's volume of 55,058,070 shares.The stock last traded at $6.29 and had previously closed at $6.38.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Morgan Stanley restated a "buy" rating on shares of NIO in a research note on Monday, July 14th. JPMorgan Chase & Co. upgraded NIO from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $4.80 to $8.00 in a research note on Tuesday, August 26th. Barclays cut their price target on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $3.70 to $3.80 in a report on Tuesday, June 17th. Finally, Mizuho lowered their price objective on NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NIO presently has a consensus rating of "Hold" and an average price target of $5.21.

NIO Trading Up 0.9%

The stock has a market cap of $13.43 billion, a PE ratio of -3.97 and a beta of 1.20. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84. The company's 50-day moving average price is $4.61 and its 200 day moving average price is $4.20.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.23). The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $12.46 billion. NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. The firm's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.39) EPS. On average, sell-side analysts forecast that NIO Inc. will post -1.43 EPS for the current fiscal year.

Institutional Trading of NIO

Several institutional investors have recently made changes to their positions in NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock valued at $20,255,000 after purchasing an additional 5,185,565 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in NIO in the second quarter valued at approximately $12,315,000. Invesco Ltd. raised its position in NIO by 22.7% in the second quarter. Invesco Ltd. now owns 2,738,308 shares of the company's stock valued at $9,392,000 after purchasing an additional 506,618 shares during the period. SG Americas Securities LLC raised its position in NIO by 83.3% in the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock valued at $8,038,000 after purchasing an additional 958,750 shares during the period. Finally, Vontobel Holding Ltd. raised its position in NIO by 125.2% in the second quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company's stock valued at $3,754,000 after purchasing an additional 608,377 shares during the period. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.

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