NIO (NYSE:NIO) Stock Price Up 7.5% - Still a Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares were up 7.5% during trading on Wednesday . The company traded as high as $3.92 and last traded at $3.80. Approximately 34,473,012 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 50,042,742 shares. The stock had previously closed at $3.53.

Analysts Set New Price Targets

A number of research analysts recently commented on NIO shares. Mizuho decreased 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. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Citigroup restated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Finally, Barclays reduced their price target on shares of NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $4.76.

NIO Stock Performance

The firm has a market cap of $7.55 billion, a P/E ratio of -2.39 and a beta of 1.73. The company's 50 day moving average is $3.77 and its 200 day moving average is $4.22. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business's revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.39) earnings per share. As a group, equities analysts predict that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several large investors have recently added to or reduced their stakes in the business. PDS Planning Inc grew its stake in NIO by 13.0% in the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after buying an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of NIO by 25.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock valued at $59,000 after buying an additional 2,712 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of NIO by 20.4% during the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after buying an additional 2,788 shares during the last quarter. Tempus Wealth Planning LLC raised its stake in shares of NIO by 7.4% during the first quarter. Tempus Wealth Planning LLC now owns 42,710 shares of the company's stock valued at $163,000 after acquiring an additional 2,943 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of NIO by 17.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock valued at $94,000 after acquiring an additional 3,152 shares during the last quarter. 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.