NIO (NYSE:NIO) Trading Up 1.6% - Time to Buy?

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price rose 1.6% during mid-day trading on Tuesday . The company traded as high as $3.57 and last traded at $3.49. Approximately 21,327,266 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 52,553,869 shares. The stock had previously closed at $3.43.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of recent analyst reports. Mizuho reduced their price objective on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Cfra Research upgraded NIO to a "hold" rating in a research note on Friday, March 21st. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and upped their price objective for the company from $3.70 to $3.80 in a research note on Tuesday, June 17th. Barclays reduced their price objective on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. Finally, Citigroup restated a "buy" rating on shares of NIO in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $4.74.

NIO Trading Up 0.4%

The firm has a fifty day moving average of $3.75 and a two-hundred day moving average of $4.07. The company has a market cap of $7.29 billion, a PE ratio of -2.16 and a beta of 1.55. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $12.46 billion. During the same period last year, the business posted ($2.39) EPS. The company's revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts predict that NIO Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NIO. Jones Financial Companies Lllp boosted its stake in NIO by 131.8% in the 4th 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 during the period. Xponance Inc. bought a new position in NIO in the 1st quarter worth about $39,000. Blueshift Asset Management LLC bought a new position in NIO in the 1st quarter worth about $43,000. Sava Infond d.o.o. bought a new position in NIO in the 4th quarter worth about $44,000. Finally, Callan Family Office LLC bought a new position in NIO in the 4th quarter worth about $44,000. Institutional investors 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.