NIO Inc. (NYSE:NIO) is now being followed by Credit Suisse, as they initiated the stock at Outperform on October 22. Analysts at JP Morgan, started covering the stock on October 09 with a Neutral rating. Analysts at Wolfe Research, made their first call about the stock on October 08, recommending it is Outperform.
NIO Inc. (NIO) hit an intraday high Friday at $6.615. The shares finished at $6.59, after trading as low as $6.48 earlier in the session. It dropped -1.05% in recent trade and currently has a stock-market value of $6.83B. Trading activity significantly weakened as the volume at ready counter decreased to 6,885,770 shares versus 10,410,610 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 9,339,700 shares. The stock is now 23.18% above against its bear-market low of $5.35.
NIO’s 50 day simple moving average (SMA 50) price is $6.9 and its stock currently has a total float of 160M shares. Its weekly volatility is hovering around 4.7% and felt 5.87% volatility in price over a month. On the upside, the share price will test short term resistance at around $6.64. On a downside, the stock is likely to find some support, which begins at $6.51. The failure to get near-term support could push it to $6.43.
Separately, it has been reported that multiple insider activity took place at NIO Inc. (NIO). Chief Administrative Officer Zimmerman Gifford R sold 700 shares in transaction occurred on 2014/09/11. After making this transaction, the Chief Administrative Officer owns a direct stake of 9,982 shares. On 2013/03/18 Zimmerman Gifford R, Chief Administrative Officer at NIO, purchased 700 shares at an average price of $14.8 per share. The new stake is valued at $4,613.
10% Owner, Bank Of America Corp /De/ had divested 2,180 shares through a trade on 2010/03/25. Following this activity, the insider holds 29,757 shares. Wall Street’s most bullish NIO Inc. (NYSE:NIO) analysts are predicting the share price to blow past $12.6 per share during the next 12 months. The current median share price forecast by them is $7.8, suggesting that the stock could increase 18.36% in that time frame. The average price target of $7.94 calls for a nearly 20.49% increase in the stock price.
Also, it is trading at rather expensive levels at just over 4.99x price/book and 29.66x price/sales. It’s also very liquid in the near term, with a current ratio of 2.6. The stock has a debt/capital of 0.18.
For this quarter, Wall Street analysts forecast revenue in a range of $296.36 million to $296.36 million, which should be compared with $0 generated last year. EPS is seen in a range of -$3.20E-01 to -$0.32, against the 0 reported a year ago.