NIO (NYSE:NIO) Stock Price Up 2.6% - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price rose 2.6% on Tuesday . The stock traded as high as $3.68 and last traded at $3.70. Approximately 11,158,430 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 55,996,585 shares. The stock had previously closed at $3.60.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Mizuho decreased their price target on shares of NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Citigroup decreased their target price on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and cut their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Finally, Hsbc Global Res lowered shares of NIO from a "strong-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 issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $5.05.

NIO Stock Up 4.8 %

The firm's 50 day simple moving average is $4.14 and its two-hundred day simple moving average is $4.52. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of -2.73 and a beta of 1.74. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned ($2.81) EPS. On average, equities analysts forecast that Nio Inc - will post -1.43 EPS for the current year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its position in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after buying an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Callan Family Office LLC bought a new stake in NIO during the fourth quarter worth about $44,000. Sava Infond d.o.o. bought a new position in NIO during the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. bought a new position in shares of NIO in the fourth quarter worth approximately $45,000. 48.55% of the stock is 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.