NIO (NYSE:NIO) Shares Up 0.9% - Time to Buy?

Shares of Nio Inc - (NYSE:NIO - Get Free Report) shot up 0.9% during mid-day trading on Monday . The company traded as high as $3.84 and last traded at $3.79. 32,109,547 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 55,762,847 shares. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

NIO has been the topic of several research reports. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Mizuho dropped their price target on NIO from $5.00 to $4.20 and set a "neutral" rating on the stock in a research report on Monday, March 24th. HSBC cut NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Cfra Research raised NIO to a "hold" rating in a research report on Friday, March 21st. Finally, Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NIO currently has an average rating of "Hold" and an average target price of $5.17.

NIO Price Performance

The stock has a market capitalization of $7.82 billion, a P/E ratio of -2.48 and a beta of 1.81. 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 firm has a fifty day moving average price of $4.40 and a two-hundred day moving average price of $4.80.

NIO (NYSE:NIO - Get Free Report) last posted its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). The firm 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%. The firm'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) EPS. As a group, analysts expect that Nio Inc - will post -1.43 EPS for the current fiscal year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. FMR LLC boosted 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 acquiring an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd lifted its position in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after purchasing an additional 538,907 shares in the last quarter. Bridgewater Associates LP grew its holdings in NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after purchasing an additional 263,338 shares during the period. SG Americas Securities LLC grew its holdings in NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after purchasing an additional 589,082 shares during the period. Finally, Swedbank AB increased its position in NIO by 0.8% in the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock worth $4,657,000 after buying an additional 9,000 shares in the last quarter. 48.55% of the stock is 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.