NIO (NYSE:NIO) Trading 4.9% Higher – Still a Buy?

Nio Inc – (NYSE:NIOGet Free Report)’s share price rose 4.9% during mid-day trading on Monday . The stock traded as high as $4.27 and last traded at $4.17. Approximately 23,613,830 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 54,805,401 shares. The stock had previously closed at $3.97.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of research reports. Citigroup reiterated a “buy” rating on shares of NIO in a report on Monday, April 28th. Mizuho reduced their price target on NIO from $4.20 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, Cfra Research raised NIO to a “hold” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NIO currently has an average rating of “Hold” and an average price target of $5.05.

View Our Latest Stock Analysis on NIO

NIO Stock Performance

The company has a market cap of $8.76 billion, a price-to-earnings ratio of -2.78 and a beta of 1.73. The company has a fifty day moving average of $4.04 and a two-hundred day moving average of $4.37. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIOGet Free Report) last announced its earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.81) earnings per share. Equities research analysts anticipate that Nio Inc – will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently modified their holdings of NIO. PDS Planning Inc increased its stake in NIO by 13.0% in the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after buying an additional 2,627 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of NIO by 25.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock valued at $59,000 after buying an additional 2,712 shares in the last quarter. Franklin Resources Inc. raised its position in shares of NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after buying an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after buying an additional 2,867 shares in the last quarter. Finally, Tempus Wealth Planning LLC raised its position in shares of NIO by 7.4% during the 1st quarter. Tempus Wealth Planning LLC now owns 42,710 shares of the company’s stock valued at $163,000 after buying an additional 2,943 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

About NIO

(Get Free Report)

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.

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