NIO (NYSE:NIO) Trading 2% Higher

Shares of Nio Inc – (NYSE:NIO) were up 2% on Tuesday . The stock traded as high as $4.13 and last traded at $4.08. Approximately 12,963,475 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 55,666,969 shares. The stock had previously closed at $4.00.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NIO. Sanford C. Bernstein lowered their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, March 7th. JPMorgan Chase & Co. dropped their price target on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research report on Wednesday, March 6th. UBS Group decreased their price objective 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. Bank of America lowered their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Finally, Macquarie assumed coverage on shares of NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.43.

NIO Trading Up 1.3 %

The firm’s 50 day simple moving average is $5.13 and its two-hundred day simple moving average is $6.65. The stock has a market capitalization of $6.96 billion, a P/E ratio of -2.31 and a beta of 1.93. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51.

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

Hedge Funds Weigh In On NIO

Large investors have recently modified their holdings of the company. Electron Capital Partners LLC bought a new position in shares of NIO in the third quarter valued at $37,918,000. Top Ace Asset Management Ltd acquired a new stake in shares of NIO in the 3rd quarter worth about $1,888,000. Banque Pictet & Cie SA bought a new position in NIO in the 3rd quarter valued at about $2,486,000. Meridian Wealth Management LLC boosted its stake in NIO by 503.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock valued at $812,000 after purchasing an additional 74,968 shares during the last quarter. Finally, TORQ CAPITAL MANAGEMENT HK Ltd increased its holdings in NIO by 275.1% during the 3rd quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 284,700 shares of the company’s stock worth $2,574,000 after purchasing an additional 208,800 shares in the last quarter. 48.55% of the stock is currently owned by 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.