NIO (NYSE:NIO) Shares Up 1.7%

Nio Inc – (NYSE:NIO)’s share price was up 1.7% on Thursday . The stock traded as high as $5.62 and last traded at $5.36. Approximately 47,514,230 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 56,354,809 shares. The stock had previously closed at $5.27.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NIO. Barclays reiterated an “underweight” rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. 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 report on Thursday, March 14th. JPMorgan Chase & Co. cut their target price on NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a report on Wednesday, March 6th. Mizuho reaffirmed a “neutral” rating and issued a $5.50 price target on shares of NIO in a research report on Monday, March 25th. Finally, Macquarie initiated coverage on NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.43.

NIO Price Performance

The business has a fifty day moving average price of $4.92 and a 200 day moving average price of $6.43. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). The company 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%. NIO’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company earned ($0.51) earnings per share. Equities analysts anticipate that Nio Inc – will post -1.26 earnings per share for the current fiscal year.

Institutional Trading of NIO

Institutional investors and hedge funds have recently modified their holdings of the company. Bfsg LLC bought a new stake in NIO in the 4th quarter valued at $33,000. Rakuten Securities Inc. acquired a new position in NIO in the fourth quarter worth about $38,000. Principal Securities Inc. acquired a new position in NIO in the fourth quarter worth about $42,000. Peoples Bank KS acquired a new stake in NIO during the third quarter valued at approximately $46,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in NIO by 272.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after purchasing an additional 6,875 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.