NIO (NYSE:NIO) Shares Gap Up - Should You Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $3.31, but opened at $3.38. NIO shares last traded at $3.28, with a volume of 11,437,249 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Mizuho dropped their target price on NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Cfra Research upgraded shares of NIO to a "hold" rating in a report on Friday, March 21st. Citigroup lowered their price objective on NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, HSBC cut NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $5.05.

NIO Stock Down 2.8 %

The company's 50 day moving average price is $4.21 and its two-hundred day moving average price is $4.64. 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 stock has a market cap of $7.35 billion, a P/E ratio of -2.33 and a beta of 1.74.

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

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank raised its stake in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after purchasing an additional 132,237 shares during the period. SBI Securities Co. Ltd. purchased a new stake in NIO during the 4th quarter valued at approximately $1,360,000. AlphaStar Capital Management LLC bought a new stake in shares of NIO during the fourth quarter valued at approximately $537,000. Arizona PSPRS Trust purchased a new position in shares of NIO in the fourth quarter worth $1,330,000. Finally, Principal Financial Group Inc. boosted its position in shares of NIO by 140.2% during the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock worth $502,000 after acquiring an additional 43,839 shares during the last quarter. 48.55% of the stock is owned by institutional investors.

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.