NIO (NYSE:NIO) Sees Large Volume Increase - Time to Buy?

Nio Inc - (NYSE:NIO - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 36,502,063 shares were traded during trading, a decline of 35% from the previous session's volume of 56,330,789 shares.The stock last traded at $6.26 and had previously closed at $6.79.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $5.30 to $8.00 in a report on Friday, September 6th. Citigroup reduced their price objective on shares of NIO from $8.50 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. Wolfe Research began coverage on shares of NIO in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Bank of America boosted their price target on shares of NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a research report on Thursday, September 5th. Finally, Daiwa America upgraded NIO to a "strong-buy" rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.93.

NIO Stock Down 8.0 %

The stock has a 50-day simple moving average of $4.83 and a two-hundred day simple moving average of $4.74. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The firm has a market cap of $10.74 billion, a PE ratio of -3.72 and a beta of 1.86.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts' consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the previous year, the company posted ($0.51) EPS. NIO's quarterly revenue was up 98.9% compared to the same quarter last year. Analysts expect that Nio Inc - will post -1.37 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. boosted its position in NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock valued at $26,891,000 after buying an additional 4,018,659 shares during the period. Quadrature Capital Ltd bought a new position in NIO during the 4th quarter worth approximately $12,361,000. Swedbank AB bought a new position in NIO during the 1st quarter worth approximately $5,343,000. AMF Tjanstepension AB increased its stake in NIO by 132.4% in the 1st quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company's stock worth $7,030,000 after purchasing an additional 889,900 shares during the period. Finally, SG Americas Securities LLC lifted its position in NIO by 64.6% in the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company's stock valued at $8,530,000 after purchasing an additional 744,067 shares during the last quarter. Institutional investors own 48.55% of the company's stock.

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.