NIO (NYSE:NIO) Shares Up 9.9% – Should You Buy?

Nio Inc – (NYSE:NIO)’s share price was up 9.9% during mid-day trading on Monday . The company traded as high as $5.81 and last traded at $5.78. Approximately 38,130,816 shares were traded during trading, a decline of 32% from the average daily volume of 56,487,414 shares. The stock had previously closed at $5.26.

Analysts Set New Price Targets

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

NIO Trading Up 11.0 %

The company has a 50 day moving average of $5.29 and a 200-day moving average of $4.84. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of -3.42 and a beta of 1.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

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

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC purchased a new position in NIO in the second quarter worth approximately $25,000. Allspring Global Investments Holdings LLC purchased a new position in NIO in the third quarter valued at $32,000. Baader Bank Aktiengesellschaft acquired a new stake in NIO in the second quarter valued at $53,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of NIO during the 2nd quarter worth about $63,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

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.