NIO (NYSE:NIO) Trading 4.2% Higher - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price shot up 4.2% during trading on Thursday . The company traded as high as $4.11 and last traded at $4.10. 15,867,794 shares were traded during mid-day trading, a decline of 72% from the average session volume of 55,946,704 shares. The stock had previously closed at $3.93.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NIO. Cfra Research raised shares of NIO to a "hold" rating in a research note on Friday, March 21st. Citigroup dropped their price objective on NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Mizuho reduced their price objective on shares of NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. One equities research 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $5.05.

NIO Stock Up 6.5 %

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 stock's fifty day simple moving average is $4.14 and its 200-day simple moving average is $4.52. The stock has a market capitalization of $8.73 billion, a PE ratio of -2.77 and a beta of 1.74.

NIO (NYSE:NIO - Get Free Report) last announced 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 business had revenue of $2.70 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm earned ($2.81) EPS. As a group, sell-side analysts forecast that Nio Inc - will post -1.43 EPS for the current fiscal year.

Institutional Trading of NIO

A number of large investors have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after acquiring an additional 3,607 shares during the period. Jones Financial Companies Lllp raised its position in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Callan Family Office LLC purchased a new stake in shares of NIO during the 4th quarter valued at approximately $44,000. Sava Infond d.o.o. bought a new position in NIO in the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. purchased a new position in NIO in the 4th quarter valued at approximately $45,000. 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.

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