NIO (NYSE:NIO) Shares Up 9% - Time to Buy?

NIO Inc. (NYSE:NIO - Get Free Report)'s stock 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 trading, a decline of 9% from the average daily volume of 53,704,644 shares. The stock had previously closed at $4.52.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NIO. 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. Morgan Stanley reissued a "buy" rating on shares of NIO in a research note on Monday, July 14th. Citigroup reissued a "buy" rating on shares of NIO in a research note on Monday, April 28th. Barclays dropped their price target on shares of NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th. Finally, The Goldman Sachs Group raised shares of NIO from a "sell" rating to a "neutral" rating and lifted their price target for the company from $3.70 to $3.80 in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.74.

NIO Price Performance

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 company has a 50-day simple moving average of $3.78 and a two-hundred day simple moving average of $4.03. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of -3.04 and a beta of 1.55.

NIO (NYSE:NIO - Get Free Report) last issued its earnings results 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 company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. During the same period in the prior year, the business earned ($2.39) earnings per share. NIO's quarterly revenue was up 21.5% on a year-over-year basis. On average, equities research analysts predict that NIO Inc. will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in NIO. Xponance Inc. bought a new position in shares of NIO in the 1st quarter valued at approximately $39,000. Blueshift Asset Management LLC acquired a new stake in NIO in the 1st quarter valued at approximately $43,000. Sava Infond d.o.o. acquired a new stake in NIO in the 4th quarter valued at approximately $44,000. Annex Advisory Services LLC acquired a new stake in NIO in the 1st quarter valued at approximately $47,000. Finally, May Hill Capital LLC acquired a new stake in NIO in the 1st quarter valued at approximately $48,000. 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.