NIO (NYSE:NIO) Stock Price Up 8.2%

Nio Inc – (NYSE:NIO)’s stock price rose 8.2% during mid-day trading on Wednesday . The stock traded as high as $4.90 and last traded at $4.90. Approximately 27,025,340 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 54,407,105 shares. The stock had previously closed at $4.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price target on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Sanford C. Bernstein reduced their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a report on Thursday, March 7th. Macquarie initiated coverage on NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price target for the company. UBS Group decreased their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $5.50 price objective on shares of NIO in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, NIO currently has a consensus rating of “Hold” and an average target price of $7.55.

NIO Trading Up 7.5 %

The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average price of $4.88 and a two-hundred day moving average price of $5.62. The company has a market cap of $8.37 billion, a price-to-earnings ratio of -2.90 and a beta of 1.87.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. As a group, equities analysts forecast that Nio Inc – will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently modified their holdings of the business. Mariner LLC boosted its position in shares of NIO by 11.4% during the 3rd quarter. Mariner LLC now owns 82,747 shares of the company’s stock worth $748,000 after purchasing an additional 8,439 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of NIO during the third quarter valued at about $461,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of NIO in the 3rd quarter worth about $120,000. Lido Advisors LLC lifted its stake in NIO by 13.2% during the 3rd quarter. Lido Advisors LLC now owns 28,637 shares of the company’s stock valued at $259,000 after acquiring an additional 3,332 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of NIO by 11.9% during the third quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock valued at $20,853,000 after purchasing an additional 245,800 shares in the last quarter. 48.55% of the stock is currently owned by 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.