NIO (NYSE:NIO) Shares Gap Up - Time to Buy?

NIO Inc. (NYSE:NIO - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $3.90, but opened at $4.11. NIO shares last traded at $4.11, with a volume of 30,554,751 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Cfra Research upgraded NIO to a "hold" rating in a research note on Friday, March 21st. The Goldman Sachs Group upgraded shares of NIO from a "sell" rating to a "neutral" rating and lifted their price target for the company from $3.70 to $3.80 in a report on Tuesday, June 17th. Citigroup reaffirmed a "buy" rating on shares of NIO in a report on Monday, April 28th. Mizuho lowered their price target on shares of NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Finally, Barclays lowered their price target on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, NIO presently has an average rating of "Hold" and a consensus target price of $4.74.

NIO Price Performance

The company has a market cap of $8.63 billion, a PE ratio of -2.55 and a beta of 1.55. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89. The firm has a 50 day simple moving average of $3.69 and a 200-day simple moving average of $4.02.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. During the same period in the previous year, the business earned ($2.39) EPS. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts predict that NIO Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Jones Financial Companies Lllp raised its position in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after acquiring an additional 4,332 shares in the last quarter. Xponance Inc. acquired a new position in NIO in the 1st quarter valued at $39,000. Blueshift Asset Management LLC purchased a new position in NIO in the 1st quarter valued at $43,000. Sava Infond d.o.o. purchased a new position in NIO in the 4th quarter valued at $44,000. Finally, Annex Advisory Services LLC purchased a new stake in shares of NIO during the first quarter worth $47,000. Institutional investors and hedge funds 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.

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