NIO (NYSE:NIO) Stock Price Up 2.2% – Still a Buy?

NIO Inc. (NYSE:NIO)’s share price traded up 2.2% on Monday . The company traded as high as $4.98 and last traded at $4.9650. Approximately 21,624,830 shares traded hands during trading, a decline of 47% from the average daily volume of 41,179,168 shares. The stock had previously closed at $4.86.

Wall Street Analyst Weigh In

NIO has been the topic of a number of recent analyst reports. Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price on the stock in a research note on Wednesday, March 11th. HSBC upgraded NIO from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.80 to $6.80 in a report on Friday, March 13th. Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 price target on shares of NIO in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Finally, Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.70.

NIO Stock Up 2.2%

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The stock’s 50-day moving average price is $5.73 and its two-hundred day moving average price is $5.39. The stock has a market capitalization of $12.33 billion, a PE ratio of -9.03 and a beta of 0.92.

NIO (NYSE:NIO) last issued its quarterly earnings results on Friday, May 22nd. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.08. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the company posted ($0.41) EPS. NIO’s revenue was up 112.2% on a year-over-year basis. As a group, analysts expect that NIO Inc. will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Several large investors have recently made changes to their positions in NIO. Atlantic Union Bankshares Corp grew its stake in shares of NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after buying an additional 2,950 shares during the last quarter. Arax Advisory Partners raised its stake in NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after buying an additional 3,487 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in NIO during the fourth quarter valued at $41,000. Merkkuri Wealth Advisors LLC bought a new stake in NIO in the first quarter worth $41,000. Finally, MV Capital Management Inc. bought a new stake in NIO in the fourth quarter worth $42,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Company Profile

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.