NIO (NYSE:NIO) Stock Price Up 1.6% - Time to Buy?

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price shot up 1.6% during trading on Tuesday . The company traded as high as $3.46 and last traded at $3.47. 12,701,721 shares traded hands during trading, a decline of 76% from the average session volume of 52,085,851 shares. The stock had previously closed at $3.41.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of analyst reports. The Goldman Sachs Group raised NIO from a "sell" rating to a "neutral" rating and upped their price target for the stock from $3.70 to $3.80 in a report on Tuesday, June 17th. Citigroup reiterated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Barclays cut their price target on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Mizuho cut their target price 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, Cfra Research upgraded NIO to a "hold" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NIO presently has a consensus rating of "Hold" and an average target price of $4.74.

NIO Stock Up 6.3%

The business's 50 day moving average price is $3.69 and its 200-day moving average price is $4.03. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84. The firm has a market capitalization of $7.72 billion, a PE ratio of -2.28 and a beta of 1.55.

NIO (NYSE:NIO - Get Free Report) last posted 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 net margin of 35.51% and a negative return on equity of 286.45%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. During the same quarter last year, the business posted ($2.39) EPS. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts forecast that NIO Inc. will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in NIO by 3,966.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock valued at $20,255,000 after acquiring an additional 5,185,565 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of NIO by 83.3% in the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock worth $8,038,000 after acquiring an additional 958,750 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of NIO in the fourth quarter valued at $3,305,000. Hsbc Holdings PLC raised its stake in shares of NIO by 96.6% in the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock valued at $3,964,000 after acquiring an additional 510,610 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in NIO in the fourth quarter valued at $1,776,000. Institutional investors and hedge funds 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.