NIO (NYSE:NIO) Stock Jumps 2.8% - Time to Buy?

Key Points

• NIO shares rose 2.8% to approximately $3.51 in mid-day trading, but remained below both the 50-day moving average of $3.94 and the 200-day moving average of $4.97.
• Analyst sentiment is mixed, with six Buy, seven Hold and two Sell ratings; the overall consensus is Hold, with an average price target of $5.87.
• NIO reported $4.73 billion in quarterly revenue and zero earnings per share, but continues to post losses, including a negative 3.95% net margin and analysts’ projected full-year loss of $0.13 per share.

NIO Inc. (NYSE:NIO - Get Free Report) traded up 2.8% during mid-day trading on Thursday. The company traded as high as $3.55 and last traded at $3.5050. Approximately 37,085,515 shares were traded during mid-day trading, a decline of 0% from the average daily volume of 37,140,352 shares. The stock had previously closed at $3.41.

Analyst Ratings Changes

NIO has been the topic of several research reports. Royal Bank Of Canada cut shares of NIO to a "sector perform" rating in a research report on Thursday, September 3rd. Sanford C. Bernstein dropped their price target on shares of NIO from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Wednesday, September 2nd. Zacks Research lowered NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. Weiss Ratings reiterated a "sell (e+)" rating on shares of NIO in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $6.10 price target on shares of NIO in a report on Friday, September 4th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, NIO presently has an average rating of "Hold" and a consensus price target of $5.87.

NIO Price Performance

The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The stock has a fifty day moving average of $3.94 and a 200-day moving average of $4.97. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of -12.98 and a beta of 0.92.

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

Institutional Trading of NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Persistent Asset Partners Ltd acquired a new position in NIO in the second quarter valued at $34,000. Global Retirement Partners LLC acquired a new stake in NIO during the 2nd quarter worth approximately $34,000. Wellington Altus USA Inc. acquired a new position in shares of NIO in the second quarter valued at approximately $35,000. Merkkuri Wealth Advisors LLC purchased a new position in NIO in the 1st quarter valued at $41,000. Finally, MV Capital Management Inc. purchased a new position in NIO during the 4th quarter worth $42,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Company Profile

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.