NIO (NYSE:NIO) Shares Up 2.6% - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report) rose 2.6% on Tuesday . The stock traded as high as $3.68 and last traded at $3.70. Approximately 11,158,430 shares traded hands during trading, a decline of 80% from the average daily volume of 55,996,585 shares. The stock had previously closed at $3.60.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NIO shares. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Cfra Research upgraded shares of NIO to a "hold" rating in a report on Friday, March 21st. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, Citigroup cut their target price on NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, NIO has a consensus rating of "Hold" and a consensus target price of $5.05.

NIO Trading Down 3.3 %

The stock has a 50 day moving average of $4.12 and a 200-day moving average of $4.48. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $8.43 billion, a P/E ratio of -2.68 and a beta of 1.74.

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

Institutional Trading of NIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. KPP Advisory Services LLC purchased a new position in shares of NIO during the first quarter valued at about $79,000. Sava Infond d.o.o. grew its holdings in NIO by 100.0% during the 1st quarter. Sava Infond d.o.o. now owns 20,000 shares of the company's stock valued at $76,000 after buying an additional 10,000 shares in the last quarter. Cobblestone Asset Management LLC bought a new stake in NIO in the 1st quarter worth approximately $319,000. FNY Investment Advisers LLC raised its holdings in shares of NIO by 2.7% during the 1st quarter. FNY Investment Advisers LLC now owns 149,300 shares of the company's stock worth $568,000 after acquiring an additional 3,870 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of NIO during the 1st quarter valued at approximately $60,000. 48.55% of the stock is currently owned by institutional investors.

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.