NIO (NYSE:NIO) Shares Up 5% – Still a Buy?

NIO Inc. (NYSE:NIO) shares shot up 5% during mid-day trading on Thursday . The stock traded as high as $5.03 and last traded at $5.03. 56,731,797 shares traded hands during trading, a decline of 5% from the average session volume of 59,648,211 shares. The stock had previously closed at $4.79.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NIO. Citigroup dropped their target price on shares of NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Bank of America increased their target price on NIO from $5.00 to $7.10 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and raised their target price for the company from $4.80 to $8.00 in a research report on Tuesday, August 26th. Barclays boosted their price target on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Finally, Wall Street Zen upgraded NIO from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus price target of $6.73.

NIO Price Performance

The firm has a market capitalization of $10.54 billion, a PE ratio of -3.48 and a beta of 1.04. The stock’s 50 day simple moving average is $6.59 and its two-hundred day simple moving average is $5.40. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94.

NIO (NYSE:NIO) last posted its quarterly earnings results on Tuesday, September 2nd. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). NIO had a negative net margin of 31.17% and a negative return on equity of 1,085.61%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period in the prior year, the business posted ($2.21) EPS. NIO’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts forecast that NIO Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of NIO by 183.5% during the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after acquiring an additional 4,269 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new position in NIO during the third quarter worth about $328,000. Caitong International Asset Management Co. Ltd boosted its holdings in NIO by 3,282.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 42,925 shares of the company’s stock valued at $327,000 after purchasing an additional 41,656 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new position in NIO in the 3rd quarter valued at about $431,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of NIO by 13.8% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 1,066,223 shares of the company’s stock valued at $7,675,000 after buying an additional 129,487 shares during the period. Hedge funds and other 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.