NIO (NYSE:NIO) Stock Price Up 2.3% – Should You Buy?

NIO Inc. (NYSE:NIO)’s stock price shot up 2.3% during trading on Tuesday . The company traded as high as $5.08 and last traded at $5.0640. Approximately 25,975,177 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 41,054,613 shares. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. HSBC raised NIO from a “hold” rating to a “buy” rating and raised their price target for the stock from $4.80 to $6.80 in a research note on Friday, March 13th. Sanford C. Bernstein restated a “market perform” rating and issued a $6.00 price target on shares of NIO in a report on Friday, May 22nd. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Finally, Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.70.

NIO Price Performance

The company has a market capitalization of $12.57 billion, a PE ratio of -9.21 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The company’s 50 day moving average price is $5.69 and its 200-day moving average price is $5.38.

NIO (NYSE:NIO) last issued its earnings results on Friday, May 22nd. The company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.08. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company posted ($0.41) EPS. The business’s quarterly revenue was up 112.2% on a year-over-year basis. On average, sell-side analysts forecast that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of large investors have recently modified their holdings of NIO. Atlantic Union Bankshares Corp grew its holdings in shares of NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after purchasing an additional 2,950 shares during the period. Allworth Financial LP raised its holdings in NIO by 183.5% in the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after buying an additional 4,269 shares during the period. Merkkuri Wealth Advisors LLC purchased a new position in NIO in the first quarter valued at approximately $41,000. Arax Advisory Partners raised its holdings in NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after buying an additional 3,487 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in NIO by 120.7% during the first quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after buying an additional 4,383 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.