NIO (NYSE:NIO) Trading Up 5% – Should You Buy?

NIO Inc. (NYSE:NIO) shares rose 5% on Thursday . The company traded as high as $5.03 and last traded at $5.03. Approximately 56,731,797 shares changed hands during trading, a decline of 5% from the average daily volume of 59,648,211 shares. The stock had previously closed at $4.79.

Analyst Ratings Changes

A number of brokerages have issued reports on NIO. Citigroup reduced their price objective on shares of NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research report on Wednesday, November 26th. UBS Group downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and upped their target price for the company from $4.80 to $8.00 in a report on Tuesday, August 26th. The Goldman Sachs Group reiterated a “neutral” rating and set a $7.00 price target on shares of NIO in a report on Thursday, October 30th. Finally, Bank of America boosted their price objective on NIO from $5.00 to $7.10 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.73.

NIO Stock Performance

The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94. The company has a market cap of $10.50 billion, a PE ratio of -3.47 and a beta of 1.04. The company’s 50 day moving average price is $6.67 and its 200-day moving average price is $5.39.

NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, September 2nd. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). NIO had a negative net margin of 31.17% and a negative return on equity of 1,085.61%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same period last year, the company posted ($2.21) earnings per share. NIO’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts anticipate that NIO Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Aspex Management HK Ltd bought a new stake in NIO in the 3rd quarter valued at about $266,700,000. WT Asset Management Ltd purchased a new position in shares of NIO in the third quarter worth about $142,120,000. Ghisallo Capital Management LLC bought a new stake in shares of NIO in the third quarter valued at approximately $91,440,000. Voloridge Investment Management LLC bought a new stake in shares of NIO in the third quarter valued at approximately $89,952,000. Finally, RWC Asset Advisors US LLC purchased a new stake in shares of NIO during the 3rd quarter valued at approximately $79,761,000. 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.