NIO (NYSE:NIO) Shares Gap Up - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $4.61, but opened at $4.94. NIO shares last traded at $5.22, with a volume of 32,804,740 shares traded.

Analyst Ratings Changes

NIO has been the subject of a number of recent research reports. Bank of America boosted their target price on shares of NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a report on Thursday, September 5th. The Goldman Sachs Group cut shares of NIO from a "neutral" rating to a "sell" rating and decreased their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Daiwa America upgraded NIO to a "strong-buy" rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded NIO from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, NIO has a consensus rating of "Hold" and a consensus price target of $5.71.

NIO Trading Up 12.4 %

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company's 50-day moving average is $5.25 and its 200 day moving average is $4.84. The company has a market cap of $8.90 billion, a price-to-earnings ratio of -3.43 and a beta of 1.77.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts' consensus estimates of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $17.45 billion during the quarter, compared to analysts' expectations of $17.49 billion. During the same quarter in the prior year, the firm posted ($0.51) EPS. NIO's quarterly revenue was up 98.9% compared to the same quarter last year. Research analysts predict that Nio Inc - will post -1.41 EPS for the current year.

Institutional Trading of NIO

Several large investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of NIO by 12.4% in the first quarter. California State Teachers Retirement System now owns 424,836 shares of the company's stock valued at $1,912,000 after buying an additional 46,987 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of NIO by 26.2% during the 1st quarter. Cetera Advisors LLC now owns 33,671 shares of the company's stock worth $152,000 after acquiring an additional 6,981 shares during the period. CWM LLC boosted its position in shares of NIO by 16.0% during the 2nd quarter. CWM LLC now owns 24,399 shares of the company's stock valued at $102,000 after acquiring an additional 3,371 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of NIO by 122.9% in the second quarter. Sequoia Financial Advisors LLC now owns 32,722 shares of the company's stock valued at $136,000 after purchasing an additional 18,039 shares during the period. Finally, 180 Wealth Advisors LLC increased its position in NIO by 11.2% during the second quarter. 180 Wealth Advisors LLC now owns 103,306 shares of the company's stock worth $430,000 after purchasing an additional 10,413 shares during the last quarter. 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.