NIO (NYSE:NIO) Shares Gap Up – Time to Buy?

Nio Inc – (NYSE:NIO) gapped up prior to trading on Friday . The stock had previously closed at $5.15, but opened at $5.46. NIO shares last traded at $5.26, with a volume of 22,662,896 shares changing hands.

Analyst Upgrades and Downgrades

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

NIO Stock Performance

The stock has a fifty day simple moving average of $5.16 and a 200-day simple moving average of $4.81. The stock has a market cap of $8.97 billion, a P/E ratio of -3.09 and a beta of 1.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. NIO’s quarterly revenue was up 98.9% on a year-over-year basis. During the same period last year, the company earned ($0.51) earnings per share. On average, equities analysts expect that Nio Inc – will post -1.37 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. increased its position in shares of NIO by 2.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after purchasing an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in NIO by 13.9% during the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after buying an additional 2,038 shares during the last quarter. Atomi Financial Group Inc. raised its position in NIO by 15.5% during the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after acquiring an additional 2,588 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Fountainhead AM LLC lifted its stake in NIO by 24.1% in the first quarter. Fountainhead AM LLC now owns 14,954 shares of the company’s stock valued at $67,000 after acquiring an additional 2,907 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About NIO

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.