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

NIO logo with Auto/Tires/Trucks background

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.

Read Our Latest Stock Report on NIO

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

(Get Free Report)

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.

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