NIO Inc. (NYSE:NIO) finished Thursday with a subtraction of -$0.21 to close at $13.25, a downside of -1.56 percent. An average of 63,084,879 shares of common stock have been traded in the last five days. There was a fall of -$2.21 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 74,034,422 shares traded, while the 50-day average volume stands at 69,042,828.
NIO stock has increased by 18.73% in the last month. The company shares reached their 1-month lowest point of $10.21 on 07/17/23. With the stock rallying to its 52-week high on 08/04/23, shares of the company touched a low of $7.00 and a high of $22.74 in 52 weeks. It has reached a new high 14 times so far this year and achieved 35.90% or $3.50 in price. In spite of this, the price is down -41.73% from the 52-week high.
Valuation Metrics
NIO Inc. (NIO) stock’s beta is 2.04. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.36, the price-to-book (PB) ratio at 7.98.
Financial Health
The quick ratio of NIO Inc. for the recent quarter was 1.10, and the current ratio was 1.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.58 and a total debt to equity ratio of 0.97 for the recent quarter. Its gross profit as reported stood at $745.81 million compared to revenue of $7.14 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, NIO Inc.’s return on assets was -18.60%.
Earnings Surprise
For the recent quarter, NIO Inc. had $2.78 billion in cash and short-term investments compared to $1.58 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$2.11 billion in the quarter, while revenues were grew 21.41%.
Technical Picture
From a technical analysis perspective, let’s take a brief look at NIO Inc. (NIO) price momentum. RSI 9-day as of the close on 10 August was 49.03%, suggesting the stock is Neutral, with historical volatility in this time frame at 59.61%.
As of today, NIO’s price is $14.06 -14.29% or -$2.21 from its 5-day moving average. NIO is currently trading +23.14% higher than its 20-day SMA and +60.41% higher than its 100-day SMA. However, the stock’s current price level is +78.81% above the SMA50 and +18.20% above the SMA200.
The stochastic %K and %D were 54.28% and 63.89%, respectively, and the average true range (ATR) was 0.95. With the 14-day stochastic at 45.13% and the average true range at 0.89, the RSI (14) stands at 55.48%. The stock has reached -0.88 on the 9-day MACD Oscillator while the 14-day reading was at -0.34.
Analyst Ratings
Nomura downgraded NIO Inc. (NYSE: NIO) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for NIO Inc. (NIO) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NIO, while 12 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 5 analysts, while 21 others rate it as a “buy”.
What is NIO’s price target for the next 12 months?
Analysts predict a range of price targets between $45.84 and $151.16, with a median target of $74.91. Taking a look at these predictions, the average price target given by analysts for NIO Inc. (NIO) stock is $90.06.
