NIO (NYSE:NIO) Shares Up 1.9% - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price shot up 1.9% during mid-day trading on Wednesday . The company traded as high as $4.06 and last traded at $4.04. 9,801,041 shares traded hands during trading, a decline of 82% from the average session volume of 53,656,418 shares. The stock had previously closed at $3.96.

Wall Street Analysts Forecast Growth

NIO has been the topic of several recent research reports. Mizuho dropped their target price on NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Cfra Research raised NIO to a "hold" rating in a research report on Friday, March 21st. Finally, Citigroup reaffirmed a "buy" rating on shares of NIO in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NIO presently has a consensus rating of "Hold" and a consensus price target of $5.05.

NIO Stock Up 0.4%

The company's fifty day simple moving average is $3.96 and its 200-day simple moving average is $4.31. 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 firm has a market capitalization of $8.30 billion, a PE ratio of -2.63 and a beta of 1.73.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.81) earnings per share. On average, analysts forecast that Nio Inc - will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its position in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after purchasing an additional 3,607 shares during the period. Jones Financial Companies Lllp lifted its position in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after purchasing an additional 4,332 shares in the last quarter. Sava Infond d.o.o. purchased a new position in shares of NIO in the fourth quarter valued at approximately $44,000. Callan Family Office LLC purchased a new stake in NIO during the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. purchased a new position in NIO in the 4th quarter valued at approximately $45,000. 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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