NIO (NYSE:NIO) Stock Price Up 8.6% - Time to Buy?

NIO Inc. (NYSE:NIO - Get Free Report) shares were up 8.6% on Thursday . The stock traded as high as $4.43 and last traded at $4.47. Approximately 47,130,579 shares were traded during mid-day trading, a decline of 11% from the average daily volume of 53,143,496 shares. The stock had previously closed at $4.11.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NIO. Morgan Stanley reiterated a "buy" rating on shares of NIO in a research report on Monday. The Goldman Sachs Group raised shares of NIO from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $3.70 to $3.80 in a research note on Tuesday, June 17th. Citigroup reissued a "buy" rating on shares of NIO in a report on Monday, April 28th. Barclays lowered their target price on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Finally, Mizuho cut their price target on NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $4.74.

NIO Trading Up 6.9%

The firm has a 50-day simple moving average of $3.71 and a 200-day simple moving average of $4.02. 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 stock has a market cap of $9.17 billion, a PE ratio of -2.71 and a beta of 1.55.

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 the consensus estimate of ($0.22) by ($0.23). The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted ($2.39) earnings per share. Equities analysts forecast that NIO Inc. will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently modified their holdings of NIO. SIH Partners LLLP raised its stake in NIO by 23.1% during the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock valued at $4,071,000 after buying an additional 175,000 shares during the last quarter. Arizona PSPRS Trust purchased a new position in shares of NIO in the 4th quarter worth about $1,330,000. Raymond James Financial Inc. bought a new position in NIO in the 4th quarter worth about $1,776,000. Bridgewater Associates LP boosted its stake in NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after purchasing an additional 263,338 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in NIO during the 4th quarter valued at about $3,305,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Company Profile

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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