NIO (NYSE:NIO) Trading 8.5% Higher

Nio Inc – (NYSE:NIO) traded up 8.5% during trading on Friday . The company traded as high as $4.51 and last traded at $4.48. 31,893,164 shares changed hands during trading, a decline of 42% from the average session volume of 55,115,828 shares. The stock had previously closed at $4.13.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Macquarie began coverage on NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 target price for the company. Barclays restated an “underweight” rating and issued a $4.00 price target (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. UBS Group lowered their price target on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Mizuho restated a “neutral” rating and issued a $5.50 price target on shares of NIO in a research report on Monday, March 25th. Finally, Sanford C. Bernstein lowered their price target on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, NIO presently has a consensus rating of “Hold” and an average target price of $8.43.

NIO Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The business has a 50 day simple moving average of $4.99 and a two-hundred day simple moving average of $6.55. The firm has a market cap of $7.72 billion, a PE ratio of -2.57 and a beta of 1.93.

NIO (NYSE:NIO) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.51) EPS. As a group, equities research analysts forecast that Nio Inc – will post -1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Institutional investors have recently made changes to their positions in the company. Electron Capital Partners LLC purchased a new position in shares of NIO during the third quarter valued at $37,918,000. Top Ace Asset Management Ltd purchased a new position in shares of NIO during the third quarter valued at $1,888,000. Banque Pictet & Cie SA purchased a new position in NIO in the third quarter valued at about $2,486,000. TORQ CAPITAL MANAGEMENT HK Ltd grew its stake in NIO by 275.1% in the third quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 284,700 shares of the company’s stock valued at $2,574,000 after purchasing an additional 208,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in NIO by 7.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 60,178 shares of the company’s stock valued at $546,000 after purchasing an additional 4,045 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

About NIO

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.