NIO (NYSE:NIO) Trading 1.7% Higher – Time to Buy?

Nio Inc – (NYSE:NIO) shares traded up 1.7% on Wednesday . The stock traded as high as $4.69 and last traded at $4.66. 18,806,650 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 56,629,531 shares. The stock had previously closed at $4.58.

Wall Street Analyst Weigh In

A number of research firms have commented on NIO. Wolfe Research initiated coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America raised their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.11.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The company’s 50-day moving average price is $5.58 and its two-hundred day moving average price is $4.93.

NIO (NYSE:NIO) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same quarter last year, the company earned ($0.51) earnings per share. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. Equities research analysts anticipate that Nio Inc – will post -1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently made changes to their positions in NIO. Point72 Asset Management L.P. raised its stake in NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. FMR LLC boosted its position in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after buying an additional 535,400 shares during the last quarter. Krane Funds Advisors LLC increased its holdings in shares of NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after buying an additional 370,556 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of NIO by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after acquiring an additional 343,910 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About NIO

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.