NIO (NYSE:NIO) Stock Price Up 3.1%

Shares of Nio Inc – (NYSE:NIO) shot up 3.1% during mid-day trading on Wednesday . The company traded as high as $4.29 and last traded at $4.28. 19,645,780 shares traded hands during trading, a decline of 61% from the average session volume of 50,892,832 shares. The stock had previously closed at $4.15.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $5.30 to $8.00 in a report on Friday. Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday. They set a “peer perform” rating on the stock. Finally, Citigroup dropped their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.94.

NIO Price Performance

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’s fifty day moving average price is $4.25 and its 200 day moving average price is $4.72. The stock has a market cap of $8.34 billion, a PE ratio of -2.87 and a beta of 1.82.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). The business had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The business’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.51) EPS. As a group, equities analysts expect that Nio Inc – will post -1.43 EPS for the current fiscal year.

Institutional Trading of NIO

Hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its position in NIO by 2.5% in the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after purchasing an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after buying an additional 2,038 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of NIO by 11.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock worth $181,000 after buying an additional 2,092 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after buying an additional 2,651 shares in the last quarter. Finally, Cantor Fitzgerald L. P. raised its position in shares of NIO by 23.0% during the 4th quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock valued at $132,000 after buying an additional 2,719 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Company Profile

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.