NIO (NYSE:NIO) Shares Up 1.6% – Should You Buy?

NIO Inc. (NYSE:NIO) was up 1.6% during trading on Wednesday. The stock traded as high as $3.55 and last traded at $3.5350. Approximately 25,307,285 shares were traded during trading, a decline of 32% from the average session volume of 37,141,402 shares. The stock had previously closed at $3.48.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NIO shares. Zacks Research downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada lowered NIO to a “sector perform” rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $4.50 in a research report on Wednesday, September 2nd. Freedom Broker lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $6.10 price target on shares of NIO in a research note on Friday, September 4th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, NIO has a consensus rating of “Hold” and a consensus price target of $5.87.

NIO Stock Up 1.6%

The company’s 50 day moving average price is $4.09 and its 200 day moving average price is $5.06. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of -13.09 and a beta of 0.92.

NIO (NYSE:NIO) last released its earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. The firm had revenue of $4.73 billion for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. As a group, research analysts forecast that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NIO. QRG Capital Management Inc. lifted its holdings in shares of NIO by 24.2% during the second quarter. QRG Capital Management Inc. now owns 37,156 shares of the company’s stock worth $188,000 after purchasing an additional 7,246 shares during the period. Wellington Altus USA Inc. acquired a new position in NIO in the 2nd quarter worth approximately $35,000. Engineers Gate Manager LP raised its position in NIO by 2.4% during the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company’s stock worth $774,000 after buying an additional 3,537 shares during the last quarter. NewEdge Advisors LLC raised its position in NIO by 2,045.0% during the 2nd quarter. NewEdge Advisors LLC now owns 11,261 shares of the company’s stock worth $57,000 after buying an additional 10,736 shares during the last quarter. Finally, Nykredit A S acquired a new stake in NIO during the 2nd quarter valued at approximately $964,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Company Profile

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.