NIO (NYSE:NIO) Shares Up 5.1% - Still a Buy?

NIO Inc. (NYSE:NIO - Get Free Report) shares traded up 5.1% during trading on Monday . The stock traded as high as $4.67 and last traded at $4.62. 27,833,337 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 53,559,232 shares. The stock had previously closed at $4.39.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays dropped their target price on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Mizuho dropped their price target on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday, June 3rd. The Goldman Sachs Group upgraded shares of NIO from a "sell" rating to a "neutral" rating and upped their target price for the stock from $3.70 to $3.80 in a research report on Tuesday, June 17th. Citigroup restated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Finally, Morgan Stanley reaffirmed a "buy" rating on shares of NIO in a report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.74.

NIO Price Performance

The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of -2.78 and a beta of 1.55. 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 has a 50 day moving average of $3.72 and a 200 day 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) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.23). The company 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 revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company earned ($2.39) earnings per share. As a group, equities research analysts anticipate that NIO Inc. will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of NIO during the fourth quarter valued at approximately $1,776,000. Avantax Advisory Services Inc. grew its holdings in NIO by 23.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 32,637 shares of the company's stock worth $142,000 after acquiring an additional 6,239 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of NIO by 86.2% during the 4th quarter. Corient Private Wealth LLC now owns 33,689 shares of the company's stock valued at $147,000 after acquiring an additional 15,600 shares during the period. American Century Companies Inc. grew its stake in shares of NIO by 6.3% in the 4th quarter. American Century Companies Inc. now owns 595,533 shares of the company's stock worth $2,597,000 after acquiring an additional 35,464 shares in the last quarter. Finally, Sei Investments Co. boosted its position in NIO by 9.8% during the fourth quarter. Sei Investments Co. now owns 137,016 shares of the company's stock worth $597,000 after purchasing an additional 12,222 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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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