NIO Limited (NYSE:NIO) is one of the worst performers on the stock market today. At current price of $4.11, the shares have already lost -0.18 points (-4.08% lower) from its previous close of $4.29. Should you buy or avoid them? The stock sets an active trading volume day with a reported 21788843 contracts so far this session. NIO shares had a relatively better volume day versus average trading capacity of 55.94 million shares, but with a 0.73 billion float and a 26.55% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NIO stock indicates that the average analyst price target is $3.67 per share. This means the stock has a potential decrease of -10.71% from where the NIO share price has been trading recently.
During the recent trading session for NIO Limited (NYSE:NIO), the company witnessed their stock rise $0.63 over a week and surge $1.5 from the price 20 days ago. When compared to their established 52-week high of $10.64, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/26/19. The recent low of $1.19 stood for a -61.33% since 02/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for NIO Limited, the two-week RSI stands at 68.91. This figure suggests that NIO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NIO readings is similarly very revealing as it has a stochastic reading of 67.08% at this stage. This figure means that NIO share price today is being neutral.
Technical chart claims that NIO Limited (NIO) would settle between $4.51/share to $4.74/share level. However, if the stock price goes below the $4.03 mark, then the market for NIO Limited becomes much weaker. If that happens, the stock price might even plunge as low as $3.78 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.37. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BofA/Merrill raised their recommendation on shares of NIO from Underperform to Neutral in their opinion released on December 31. Piper Jaffray, analysts launched coverage of NIO Limited (NYSE:NIO) stock with a Neutral recommendation, according to their flash note issued to investors on December 03. Analysts at Goldman lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to October 04.
NIO equity has an average rating of 2.92, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 2 analysts rated NIO Limited (NYSE:NIO) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, NIO stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 13.2. NIO Limited current P/B ratio of 0 means it is trading at a discount against its industry’s 1.4.
NIO Limited (NIO)’s current-quarter revenues are projected to climb by nearly -21.2% to hit $399530, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 60.2% from $698120 to a noteworthy $1.12 billion. At the other end of the current quarter income statement, NIO Limited is expected to see its adjusted earnings surge by roughly 95.9% to hit $-0.26 per share. For the fiscal year, NIO’s earnings are projected to climb by roughly 85.3% to hit $-1.46 per share.