NIO (NYSE:NIO) Sees Strong Trading Volume – Still a Buy?

NIO Inc. (NYSE:NIO) saw an uptick in trading volume on Tuesday . 52,249,167 shares were traded during mid-day trading, a decline of 5% from the previous session’s volume of 55,058,070 shares.The stock last traded at $6.29 and had previously closed at $6.38.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NIO. Barclays cut their target price on NIO from $4.00 to $3.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 4th. The Goldman Sachs Group raised NIO from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $3.70 to $3.80 in a research report on Tuesday, June 17th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $4.80 to $8.00 in a research report on Tuesday, August 26th. Morgan Stanley reaffirmed a “buy” rating on shares of NIO in a research report on Monday, July 14th. Finally, Mizuho cut their price objective on NIO from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, NIO has an average rating of “Hold” and an average price target of $5.21.

NIO Trading Up 0.9%

The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69. The business’s 50 day moving average is $4.61 and its 200 day moving average is $4.20. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of -3.97 and a beta of 1.20.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%.The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.39) EPS. As a group, equities analysts expect that NIO Inc. will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently modified their holdings of NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock valued at $20,255,000 after acquiring an additional 5,185,565 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in NIO in the second quarter valued at $12,315,000. SG Americas Securities LLC boosted its stake in NIO by 83.3% in the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company’s stock valued at $8,038,000 after acquiring an additional 958,750 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in NIO by 125.2% in the second quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company’s stock valued at $3,754,000 after acquiring an additional 608,377 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in NIO by 96.6% in the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company’s stock valued at $3,964,000 after acquiring an additional 510,610 shares in the last quarter. Institutional investors and hedge funds 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.