NIO (NYSE:NIO) Shares Up 2.5% – Should You Buy?

NIO Inc. (NYSE:NIO – Get Free Report) was up 2.5% on Friday . The stock traded as high as $4.88 and last traded at $4.85. 25,697,542 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 41,338,191 shares. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NIO. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $6.00 target price on shares of NIO in a report on Friday, May 22nd. Bank of America reiterated a “neutral” rating and set a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. Finally, HSBC raised shares of NIO from a “hold” rating to a “buy” rating and increased their price target for the stock from $4.80 to $6.80 in a report on Friday, March 13th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.70.

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NIO Trading Up 2.5%

The stock has a market cap of $12.04 billion, a P/E ratio of -8.82 and a beta of 0.92. The firm’s fifty day moving average price is $5.73 and its two-hundred day moving average price is $5.38. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90.

NIO (NYSE:NIO – Get Free Report) last issued its quarterly earnings data on Friday, May 22nd. The company reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.08. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the business posted ($0.41) earnings per share. The firm’s revenue was up 112.2% compared to the same quarter last year. As a group, equities research analysts forecast that NIO Inc. will post -0.13 EPS for the current year.

Institutional Trading of NIO

A number of large investors have recently modified their holdings of the business. Aspex Management HK Ltd purchased a new position in shares of NIO during the third quarter worth about $266,700,000. Renaissance Technologies LLC raised its stake in NIO by 70.2% in the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after purchasing an additional 5,962,731 shares in the last quarter. Bank of America Corp DE raised its stake in NIO by 99.0% in the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after purchasing an additional 7,079,903 shares in the last quarter. Voloridge Investment Management LLC lifted its position in NIO by 14.4% during the fourth quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock valued at $68,843,000 after purchasing an additional 1,694,023 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in NIO during the third quarter valued at approximately $91,440,000. Institutional investors own 48.55% of the company’s stock.

NIO Company Profile

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NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.

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