NIO (NYSE:NIO) Shares Up 2.2% - Still a Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was up 2.2% during mid-day trading on Thursday . The company traded as high as $4.77 and last traded at $4.70. Approximately 14,594,706 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 56,568,660 shares. The stock had previously closed at $4.60.

Wall Street Analyst Weigh In

NIO has been the topic of a number of recent research reports. Macquarie downgraded shares of NIO from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Bank of America upped their target price on shares of NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. upgraded NIO from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Citigroup decreased their price objective on NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. Finally, Wolfe Research initiated coverage on NIO in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $5.71.

NIO Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The business's fifty day moving average is $5.34 and its two-hundred day moving average is $4.85. The company has a market cap of $8.01 billion, a P/E ratio of -3.11 and a beta of 1.77.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm's quarterly revenue was up 98.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.51) EPS. Equities analysts predict that Nio Inc - will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. FMR LLC grew its stake in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Point72 Asset Management L.P. increased its stake in shares of NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock worth $26,891,000 after acquiring an additional 4,018,659 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in NIO during the third quarter worth about $4,879,000. Quadrature Capital Ltd lifted its position in NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after buying an additional 538,907 shares during the last quarter. Finally, Krane Funds Advisors LLC raised its position in NIO by 31.7% in the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company's stock valued at $6,401,000 after purchasing an additional 370,556 shares during the period. 48.55% of the stock is currently owned by hedge funds and other 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.

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