Nio Inc – (NYSE:NIO – Get Free Report) shares traded up 0.5% on Monday . The stock traded as high as $4.42 and last traded at $4.35. 11,195,853 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 56,044,191 shares. The stock had previously closed at $4.33.
Wall Street Analyst Weigh In
Several analysts have recently commented on NIO shares. Sanford C. Bernstein decreased their price objective on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. Citigroup dropped their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating for the company in a research note on Thursday, June 6th. Jefferies Financial Group cut their price objective on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Barclays reissued an “underweight” rating and set a $4.00 price target (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Finally, Mizuho reissued a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.55.
Read Our Latest Stock Report on NIO
NIO Trading Up 2.8 %
NIO (NYSE:NIO – Get Free Report) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, research analysts forecast that Nio Inc – will post -1.33 EPS for the current fiscal year.
Institutional Investors Weigh In On NIO
Several institutional investors and hedge funds have recently made changes to their positions in the business. Bfsg LLC acquired a new position in NIO during the fourth quarter worth about $33,000. Rakuten Securities Inc. purchased a new position in shares of NIO during the 4th quarter worth approximately $38,000. Newbridge Financial Services Group Inc. raised its position in shares of NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after purchasing an additional 6,875 shares during the last quarter. Principal Securities Inc. purchased a new stake in NIO in the 4th quarter valued at approximately $42,000. Finally, BSW Wealth Partners acquired a new stake in NIO during the 1st quarter valued at $46,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.
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.
Read More
- Five stocks we like better than NIO
- Investing In Automotive Stocks
- Buffett Bails on BYD: What It Means for the Future of EV Stocks
- Trading Stocks: RSI and Why it’s Useful
- Domino’s vs. Papa John’s: Stock Showdown of Pizza Giants
- Best Stocks Under $5.00
- Williams-Sonoma Makes Stock More Accessible with a Stock Split
Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.