NIO (NYSE:NIO) Shares Up 1.7%

Nio Inc – (NYSE:NIO) traded up 1.7% during trading on Thursday . The company traded as high as $5.62 and last traded at $5.36. 47,514,230 shares changed hands during trading, a decline of 16% from the average session volume of 56,354,809 shares. The stock had previously closed at $5.27.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NIO shares. UBS Group dropped their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research report on Thursday, March 14th. The Goldman Sachs Group began coverage on NIO in a research note on Wednesday, January 3rd. They set a “neutral” rating on the stock. Macquarie initiated coverage on NIO in a research report on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price for the company. 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, Jefferies Financial Group decreased their price objective on shares of NIO from $8.30 to $5.90 and set a “hold” rating for the company in a report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, NIO has an average rating of “Hold” and a consensus price target of $8.43.

NIO Price Performance

The business’s 50 day simple moving average is $4.92 and its 200-day simple moving average is $6.46. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of -3.23 and a beta of 1.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

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

Institutional Investors Weigh In On NIO

Several institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC boosted its stake in NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after purchasing an additional 4,976,403 shares in the last quarter. Electron Capital Partners LLC bought a new position in NIO during the third quarter valued at about $37,918,000. Quadrature Capital Ltd acquired a new position in NIO during the fourth quarter worth about $12,361,000. Norges Bank acquired a new position in NIO during the fourth quarter worth about $9,652,000. Finally, Linden Advisors LP bought a new stake in NIO in the third quarter worth about $8,972,000. Institutional investors and hedge funds 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.