NIO (NYSE:NIO) Trading Up 2%

Nio Inc – (NYSE:NIO) shot up 2% during mid-day trading on Monday . The stock traded as high as $6.04 and last traded at $5.68. 44,149,273 shares were traded during trading, a decline of 22% from the average session volume of 56,842,816 shares. The stock had previously closed at $5.57.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America cut their target price on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Macquarie began coverage on shares of NIO in a research note on Monday, April 15th. They set a “neutral” rating and a $5.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of NIO from $5.00 to $4.80 and set an “underweight” rating for the company in a research note on Wednesday, March 6th. UBS Group dropped their target price on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Finally, Mizuho reiterated a “neutral” rating and set a $5.50 price target on shares of NIO in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.43.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of -2.98 and a beta of 1.92. The firm’s 50 day moving average is $4.91 and its 200-day moving average is $6.37.

NIO (NYSE:NIO) last issued its quarterly earnings results 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). The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.51) earnings per share. Sell-side analysts anticipate that Nio Inc – will post -1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its holdings in shares of NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after acquiring an additional 4,976,403 shares during the period. Electron Capital Partners LLC bought a new position in shares of NIO during the third quarter valued at $37,918,000. Quadrature Capital Ltd bought a new stake in shares of NIO in the 4th quarter worth about $12,361,000. Norges Bank acquired a new stake in shares of NIO during the 4th quarter worth about $9,652,000. Finally, Linden Advisors LP bought a new position in NIO during the 3rd quarter valued at about $8,972,000. Institutional investors 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.