NIO (NYSE:NIO) Trading Up 1.5% – Still a Buy?

Shares of Nio Inc – (NYSE:NIO) rose 1.5% on Tuesday . The stock traded as high as $6.98 and last traded at $6.78. Approximately 51,897,809 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 55,045,738 shares. The stock had previously closed at $6.68.

Wall Street Analysts Forecast Growth

NIO has been the subject of several research reports. Citigroup reduced their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research began coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Bank of America lifted their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.93.

NIO Stock Down 6.9 %

The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of -3.97 and a beta of 1.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The business’s 50 day moving average is $4.69 and its 200-day moving average is $4.71.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Ridgewood Investments LLC bought a new position in NIO during the second quarter valued at about $25,000. Sound Income Strategies LLC raised its stake in shares of NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after purchasing an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC bought a new position in NIO in the first quarter worth $51,000. Baader Bank Aktiengesellschaft acquired a new stake in NIO during the second quarter worth $53,000. Finally, Edge Wealth Management LLC bought a new stake in NIO in the 1st quarter valued at $54,000. Institutional investors own 48.55% of the company’s stock.

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.