NIO (NYSE:NIO) Trading Up 1.2% – Here’s What Happened

NIO Inc. (NYSE:NIO) shares traded up 1.2% on Tuesday . The stock traded as high as $3.79 and last traded at $3.7150. 38,345,304 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 37,615,656 shares. The stock had previously closed at $3.67.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $6.10 price target on shares of NIO in a report on Friday, September 4th. Freedom Broker lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada downgraded NIO to a “sector perform” rating in a research report on Thursday, September 3rd. Sanford C. Bernstein lowered their target price on shares of NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, September 2nd. Finally, Zacks Research downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, NIO presently has a consensus rating of “Hold” and an average price target of $5.87.

NIO Stock Down 1.2%

The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The company’s 50 day moving average price is $4.32 and its 200 day moving average price is $5.19. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of -13.43 and a beta of 0.92.

NIO (NYSE:NIO) last released its earnings results on Saturday, August 15th. The company reported $0.00 EPS for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%.The firm had revenue of $4.73 billion during the quarter. As a group, research analysts forecast that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Persistent Asset Partners Ltd acquired a new stake in shares of NIO during the 2nd quarter valued at about $34,000. Merkkuri Wealth Advisors LLC purchased a new position in NIO during the first quarter worth approximately $41,000. Global Retirement Partners LLC acquired a new stake in NIO in the second quarter valued at approximately $34,000. Wellington Altus USA Inc. acquired a new stake in NIO in the second quarter valued at approximately $35,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of NIO by 120.7% in the first quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after buying an additional 4,383 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a Chinese smart electric vehicle company founded in 2014 and headquartered in Shanghai. The company designs, develops and sells battery-powered passenger vehicles, with a focus on combining electric mobility with digital connectivity, autonomous-driving capabilities and premium user services.

NIO’s vehicle lineup has included electric SUVs, sedans and station wagons marketed under the NIO brand. Its services include battery charging and swapping, mobile charging, battery upgrades, vehicle financing and maintenance support.