NIO (NYSE:NIO) Stock Price Up 0.4% – What’s Next?

Nio Inc – (NYSE:NIO)’s share price shot up 0.4% during mid-day trading on Friday . The company traded as high as $5.19 and last traded at $5.12. 17,051,096 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 56,652,801 shares. The stock had previously closed at $5.10.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of recent research reports. Citigroup dropped their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America raised their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Macquarie upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.60 target price on the stock in a research report on Monday. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $5.30 to $8.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average price target of $6.11.

NIO Stock Up 1.2 %

The firm has a market cap of $8.87 billion, a price-to-earnings ratio of -3.41 and a beta of 1.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The business’s 50-day moving average is $5.41 and its 200-day moving average is $4.86.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter in the previous year, the company earned ($0.51) EPS. NIO’s revenue was up 98.9% on a year-over-year basis. On average, equities analysts predict that Nio Inc – will post -1.37 EPS for the current year.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after buying an additional 439,474 shares during the period. SG Americas Securities LLC raised its stake in shares of NIO by 64.6% during the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after purchasing an additional 744,067 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of NIO by 2.5% during the 1st 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 period. SIH Partners LLLP increased its holdings in NIO by 207.2% in the 1st quarter. SIH Partners LLLP now owns 325,220 shares of the company’s stock worth $1,463,000 after acquiring an additional 219,350 shares during the last quarter. Finally, Redwood Wealth Management Group LLC grew its holdings in NIO by 6.9% during the 1st quarter. Redwood Wealth Management Group LLC now owns 53,632 shares of the company’s stock valued at $241,000 after buying an additional 3,450 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.