NIO (NYSE:NIO) Shares Up 3.3% - Time to Buy?

Key Points

• NIO shares rose 3.3% to $3.295 in Wednesday trading, with volume about 25% above its average.
• Analyst sentiment is mixed: six rate the stock Buy, seven Hold and two Sell, producing a consensus Hold rating and a $5.78 average price target.
• NIO reported quarterly revenue of $4.73 billion and zero EPS; analysts expect a loss of $0.13 per share for the current year.

Shares of NIO Inc. (NYSE:NIO - Get Free Report) shot up 3.3% during trading on Wednesday. The company traded as high as $3.41 and last traded at $3.2950. Approximately 45,507,509 shares were traded during mid-day trading, an increase of 25% from the average session volume of 36,459,375 shares. The stock had previously closed at $3.19.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NIO. The Goldman Sachs Group reaffirmed a "buy" rating and set a $6.10 target price on shares of NIO in a research report on Friday, September 4th. JPMorgan Chase & Co. dropped their price objective on NIO from $4.50 to $3.70 and set a "neutral" rating on the stock in a research note on Monday, October 26th. Citigroup restated a "buy" rating on shares of NIO in a report on Tuesday, September 1st. Royal Bank Of Canada downgraded NIO to a "sector perform" rating in a report on Thursday, September 3rd. Finally, Sanford C. Bernstein decreased their target price on NIO from $6.00 to $5.00 and set a "market perform" rating for the company in a research report on Wednesday, September 2nd. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $5.78.

NIO Trading Up 3.3%

The stock has a market capitalization of $8.18 billion, a P/E ratio of -12.20 and a beta of 0.89. The stock's 50 day moving average price is $3.60 and its 200-day moving average price is $4.87. 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 issued its quarterly earnings data on Saturday, August 15th. The company reported $0.00 EPS for the quarter. The company had revenue of $4.73 billion during the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. As a group, equities research analysts expect that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently made changes to their positions in NIO. Bank of America Corp DE raised its holdings in NIO by 99.0% in the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company's stock worth $85,800,000 after purchasing an additional 7,079,903 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company's stock valued at $87,146,000 after buying an additional 5,962,731 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of NIO in the 2nd quarter valued at about $19,008,000. Hsbc Holdings PLC grew its position in shares of NIO by 651.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company's stock worth $8,051,000 after buying an additional 1,387,656 shares during the last quarter. Finally, ABC Arbitrage SA purchased a new position in shares of NIO in the 1st quarter worth approximately $4,043,000. 48.55% of the stock is currently 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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