NIO (NYSE:NIO) Trading 0.8% Higher - Still a Buy?

Nio Inc - (NYSE:NIO - Get Free Report) rose 0.8% on Tuesday . The stock traded as high as $4.48 and last traded at $4.42. Approximately 17,067,029 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 55,323,487 shares. The stock had previously closed at $4.38.

Wall Street Analysts Forecast Growth

Several research firms have commented on NIO. HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Cfra Research raised shares of NIO to a "hold" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Mizuho lowered their price objective on NIO from $5.00 to $4.20 and set a "neutral" rating for the company in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $5.00.

NIO Price Performance

The business has a fifty day simple moving average of $4.43 and a 200-day simple moving average of $4.83. 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.

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NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the firm posted ($2.81) earnings per share. The company's revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts expect that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. FMR LLC raised its stake in shares of NIO by 5,388.5% in the third 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 last quarter. Trexquant Investment LP purchased a new stake in NIO in the 4th quarter valued at $3,305,000. Point72 Hong Kong Ltd bought a new position in NIO during the 3rd quarter valued at $4,879,000. SG Americas Securities LLC boosted its holdings in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after acquiring an additional 589,082 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after acquiring an additional 538,907 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.