NIO (NYSE:NIO) Trading 1.7% Higher - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report) shares rose 1.7% during mid-day trading on Friday . The company traded as high as $3.46 and last traded at $3.34. Approximately 17,481,775 shares traded hands during trading, a decline of 69% from the average daily volume of 56,293,954 shares. The stock had previously closed at $3.28.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NIO shares. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Citigroup dropped their price objective on NIO from $8.90 to $8.10 and set a "buy" rating for the company in a research note on Monday, March 24th. HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Cfra Research raised shares of NIO to a "hold" rating in a research report on Friday, March 21st. Finally, Mizuho decreased their price objective on shares of NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $5.05.

NIO Stock Down 2.1 %

The company's fifty day simple moving average is $4.21 and its 200 day simple moving average 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 firm has a market capitalization of $7.40 billion, a P/E ratio of -2.35 and a beta of 1.74.

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NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 113.83% and a negative net margin of 33.41%. NIO's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned ($2.81) earnings per share. Research analysts expect that Nio Inc - will post -1.43 EPS for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its holdings in shares of 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 buying an additional 132,237 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in NIO during the fourth quarter worth about $1,360,000. AlphaStar Capital Management LLC bought a new stake in NIO during the fourth quarter worth about $537,000. Arizona PSPRS Trust purchased a new stake in NIO in the fourth quarter worth about $1,330,000. Finally, Principal Financial Group Inc. increased its stake 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 valued at $502,000 after purchasing an additional 43,839 shares in the last quarter. 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.