NIO (NYSE:NIO) Shares Climb 6.1% - Time to Buy?

Key Points

• NIO shares rose 6.1% to $3.395 in Friday mid-day trading, with volume about 36% above its average.
• Analyst views are mixed, but the consensus rating is Hold with a $5.78 price target; six analysts rate the stock Buy, seven Hold, and two Sell.
• The company reported quarterly revenue of $4.73 billion and break-even EPS, while analysts forecast a loss of $0.13 per share for the current fiscal year.

Shares of NIO Inc. (NYSE:NIO - Get Free Report) were up 6.1% during mid-day trading on Friday. The stock traded as high as $3.42 and last traded at $3.3950. Approximately 49,763,623 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 36,590,434 shares. The stock had previously closed at $3.20.

Analysts Set New Price Targets

NIO has been the topic of a number of recent research reports. Citigroup restated a "buy" rating on shares of NIO in a research note on Tuesday, September 1st. Zacks Research lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. decreased their target price on shares of NIO from $4.50 to $3.70 and set a "neutral" rating for the company in a research note on Monday, October 26th. Royal Bank Of Canada downgraded shares of NIO to a "sector perform" rating in a report on Thursday, September 3rd. Finally, Sanford C. Bernstein dropped their price target on shares of NIO from $6.00 to $5.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 2nd. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.78.

NIO Price Performance

The firm has a market capitalization of $8.43 billion, a PE ratio of -12.57 and a beta of 0.89. The stock has a 50-day moving average price of $3.55 and a 200 day moving average price of $4.86. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. The business had revenue of $4.73 billion during the quarter. Equities analysts forecast that NIO Inc. will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. Strengthening Families & Communities LLC raised its holdings in NIO by 143.5% in the 3rd quarter. Strengthening Families & Communities LLC now owns 8,171 shares of the company's stock valued at $28,000 after acquiring an additional 4,815 shares during the last quarter. Global Retirement Partners LLC purchased a new position in NIO in the 2nd quarter worth approximately $34,000. Persistent Asset Partners Ltd acquired a new position in shares of NIO during the 2nd quarter worth approximately $34,000. Wellington Altus USA Inc. acquired a new position in shares of NIO during the 2nd quarter worth approximately $35,000. Finally, Nadler Financial Group Inc. acquired a new position in shares of NIO during the 3rd quarter worth approximately $35,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Company Profile

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.

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