NIO (NYSE:NIO) Trading Up 5.3% - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price shot up 5.3% during trading on Wednesday . The stock traded as high as $3.96 and last traded at $3.95. 17,326,187 shares were traded during mid-day trading, a decline of 69% from the average session volume of 55,938,226 shares. The stock had previously closed at $3.75.

Analyst Upgrades and Downgrades

NIO has been the topic of several recent analyst reports. Mizuho dropped their price target on NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Citigroup decreased their target price on shares of NIO from $8.90 to $8.10 and set a "buy" rating for the company in a research note on Monday, March 24th. Finally, Cfra Research raised shares of NIO to a "hold" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.05.

NIO Stock Down 3.3 %

The firm has a 50 day moving average of $4.12 and a 200-day moving average of $4.46. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market capitalization of $8.43 billion, a P/E ratio of -2.68 and a beta of 1.74.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the firm earned ($2.81) EPS. The firm's quarterly revenue was up 15.2% on a year-over-year basis. On average, equities research analysts expect that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in shares of NIO by 2.4% during the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company's stock worth $1,871,000 after buying an additional 6,545 shares during the period. Garden State Investment Advisory Services LLC bought a new position in shares of NIO during the third quarter valued at $374,000. Principal Financial Group Inc. boosted its stake in shares of NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock valued at $502,000 after purchasing an additional 43,839 shares in the last quarter. FNY Investment Advisers LLC boosted its stake in shares of NIO by 352.6% in the 4th quarter. FNY Investment Advisers LLC now owns 145,430 shares of the company's stock valued at $634,000 after purchasing an additional 113,296 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in shares of NIO in the 4th quarter worth about $270,000. Institutional investors own 48.55% of the company's stock.

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.