NIO (NYSE:NIO) Trading 3.2% Higher – Still a Buy?

Nio Inc – (NYSE:NIO)’s share price traded up 3.2% during trading on Tuesday . The company traded as high as $3.75 and last traded at $3.72. 16,509,941 shares changed hands during trading, a decline of 69% from the average session volume of 52,882,723 shares. The stock had previously closed at $3.60.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NIO. Cfra Research raised NIO to a “hold” rating in a research report on Friday, March 21st. Mizuho reduced their price objective on NIO from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, June 3rd. Citigroup reaffirmed a “buy” rating on shares of NIO in a report on Monday, April 28th. Finally, Barclays cut their target price on shares of NIO from $4.00 to $3.00 and set an “underweight” rating for the company in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.76.

NIO Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $7.89 billion, a PE ratio of -2.51 and a beta of 1.62. The stock’s 50-day moving average is $3.76 and its two-hundred day moving average is $4.19.

NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $12.46 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.39) EPS. On average, equities analysts predict that Nio Inc – will post -1.43 EPS for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds have recently made changes to their positions in the company. PDS Planning Inc increased its stake in shares of NIO by 13.0% during the fourth 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 period. BI Asset Management Fondsmaeglerselskab A S increased its position in 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 purchasing an additional 2,712 shares during the period. Franklin Resources Inc. raised its holdings in shares of NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after purchasing an additional 2,788 shares in the last quarter. Tempus Wealth Planning LLC raised its holdings in shares of NIO by 7.4% in the 1st quarter. Tempus Wealth Planning LLC now owns 42,710 shares of the company’s stock valued at $163,000 after purchasing an additional 2,943 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of NIO by 17.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock worth $94,000 after purchasing an additional 3,152 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.