NIO (NYSE:NIO) Stock Price Up 5.6% - Should You Buy?

NIO Inc. (NYSE:NIO - Get Free Report) was up 5.6% during mid-day trading on Thursday . The stock traded as high as $3.61 and last traded at $3.68. Approximately 16,468,537 shares traded hands during trading, a decline of 68% from the average daily volume of 52,148,294 shares. The stock had previously closed at $3.48.

Analysts Set New Price Targets

A number of brokerages have commented on NIO. Citigroup reiterated a "buy" rating on shares of NIO in a research note on Monday, April 28th. Cfra Research upgraded NIO to a "hold" rating in a report on Friday, March 21st. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and upped their price objective for the company from $3.70 to $3.80 in a research note on Tuesday, June 17th. Mizuho reduced their target price on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Finally, Barclays dropped 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $4.74.

NIO Price Performance

The company has a 50 day moving average of $3.69 and a 200-day moving average of $4.03. The firm has a market capitalization of $8.16 billion, a P/E ratio of -2.41 and a beta of 1.55. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89.

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 analysts' consensus estimates of ($0.22) by ($0.23). The firm 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 286.45% and a negative net margin of 35.51%. The firm's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.39) EPS. On average, sell-side analysts predict that NIO Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NIO. PDS Planning Inc increased its position 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 acquiring an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of NIO by 25.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock worth $59,000 after purchasing an additional 2,712 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of NIO by 20.4% in the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock worth $72,000 after purchasing an additional 2,788 shares during the last quarter. Tempus Wealth Planning LLC increased its holdings in NIO by 7.4% in the first quarter. Tempus Wealth Planning LLC now owns 42,710 shares of the company's stock valued at $163,000 after purchasing an additional 2,943 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in NIO by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock worth $94,000 after purchasing an additional 3,152 shares during the last quarter. Institutional investors and hedge funds 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.