NIO (NYSE:NIO) Stock Price Up 9% - Still a Buy?

NIO Inc. (NYSE:NIO - Get Free Report)'s share price was up 9% on Tuesday . The stock traded as high as $4.95 and last traded at $4.93. Approximately 48,924,231 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 53,704,644 shares. The stock had previously closed at $4.52.

Analyst Ratings Changes

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

NIO Trading Up 10.7%

The company has a market capitalization of $10.45 billion, a P/E ratio of -3.10 and a beta of 1.55. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69. The business's 50-day moving average price is $3.72 and its two-hundred day moving average price is $4.02.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $12.46 billion. During the same quarter last year, the company posted ($2.39) EPS. NIO's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, analysts forecast that NIO Inc. will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of large investors have recently modified their holdings of the company. Ping Capital Management Inc. purchased a new position in shares of NIO during the 1st quarter valued at $305,000. SIH Partners LLLP raised its holdings in NIO by 23.1% during the 4th 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 bought a new position in NIO in the 4th quarter worth $1,330,000. Raymond James Financial Inc. bought a new position in NIO in the 4th quarter worth $1,776,000. Finally, Bridgewater Associates LP raised its holdings 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.