With the current price of $19.88, the stock of NIO Limited (NYSE:NIO) concluded the trading session seeing its price drop by -0.56 points or at a loss of -2.74% compared to its previous day’s closing price of $20.44. About 191 million shares of the stock changed hands on the day. The trading volume of NIO’s shares during the past session compares with the stock’s average daily trading volume of 130 million shares. On the other hand, a float of 839 million shares and a weekly performance of 44.27% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $11.01 for NIO’s share which suggests that the stock, price of which is currently buoying between $18.76 and $20.47, is prone to a loss of -44.62%.

The latest data released on July 31, 2020 shows that the short float in the NIO Limited’s stock is trending downward as short interest in NIO shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the NIO is currently comprised of 12.72% of the float. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to shares from the previous figure of shares. Stock’s average intraday volume is now standing at shares which indicate that the days to cover the shorts are nearly.

After concluding the day’s trading, price of NIO Limited (NYSE:NIO) is up $6.1 over the week and it is $7.68 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $20.97 that was attained on 08/26/20.

The stock has traded as low as $1.19 in past 52-week, and its current price is 1570.59% above from that 52-week low price mark recorded on 10/02/19, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 0. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.

Current indicators are pointing at 77.01 as 14-days RSI of NIO Limited. This means that the NIO is currently in an oversold territory and its share’s price movement is likely to be shaky for a while. Similarly, the stochastic oscillator is indicating a momentum of 93.41%, implying stock’s share price is buoying in an oversold state.

Technical chart is showing 1st resistance point of $20.65 for the NIO’s share while placing it at a 2nd resistance point of $21.41 to be settled at. But if the stock takes a plunge lower than the 1st support price of $18.94 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $17.99.

MACD oscillator is showing a reading of 3.45 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.

Morgan Stanley lifted its recommendation for NIO stock from Equal-Weight to Overweight in a review note dated August 26, and moved the price target up at $20.5. The stock gets its recommendation upgraded from Sell to Neutral from the analysts at UBS in their August 25 note to investors.Goldmananalysts downgraded their recommendation from Neutral to Sell on July 17.

The average rating of 2.92 for NIO is placing the stock in bullish category at the moment. In a poll by Reuters including 13 analysts in it who kept tracking the NIO Limited, 6 rated the stock as hold. Others were in different opinions for the NIO. Out of remaining 7 analysts, 5 rated the stock as a buy or strong buy. 2 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.

A quick look at other side of the picture shows that NIO stock is lagging behind current price-to-sales (P/S) ratio of 0 is at the rear of industry’s average P/S ratio of 59.6. A comparison of NIO Limited’s trailing 12-months P/E ratio of 0 implies that it is trading above the industry’s average P/E ratio, which currently is 2.2.

Projection by Zacks Consensus Estimates suggests that NIO Limited (NYSE:NIO) will see its current-quarter revenues drop by nearly -99.88% to be decreased to about $614 million. Full-year revenue of the company is however forecasted to be increased by nearly 89.29% to bring $2120 million in revenues against last year revenue of $1120 million. Earnings, after adjustments, are likely to fell by -92.86% to post an EPS of -$0.17, while estimate for company’s full year earnings is -$0.71 per share with a growth rate of -52.67%.


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