NIO (NYSE:NIO) Shares Climb 1.3% – What’s Next?

NIO Inc. (NYSE:NIO) traded up 1.3% during trading on Monday. The company traded as high as $3.47 and last traded at $3.4150. 25,941,420 shares changed hands during trading, a decline of 30% from the average session volume of 37,248,477 shares. The stock had previously closed at $3.37.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NIO shares. Citigroup reaffirmed a “buy” rating on shares of NIO in a research report on Tuesday, September 1st. Royal Bank Of Canada cut NIO to a “sector perform” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group restated a “buy” rating and issued a $6.10 price objective on shares of NIO in a research note on Friday, September 4th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $4.50 in a research report on Wednesday, September 2nd. Finally, Sanford C. Bernstein cut 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. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.87.

NIO Stock Performance

The firm has a fifty day simple moving average of $4.09 and a 200 day simple moving average of $5.06. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of -12.91 and a beta of 0.92.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its stake in shares of NIO by 24.2% in the 2nd quarter. QRG Capital Management Inc. now owns 37,156 shares of the company’s stock valued at $188,000 after purchasing an additional 7,246 shares during the period. Wellington Altus USA Inc. acquired a new stake in NIO in the 2nd quarter valued at $35,000. Engineers Gate Manager LP grew its position in NIO by 2.4% in the second quarter. Engineers Gate Manager LP now owns 152,990 shares of the company’s stock valued at $774,000 after acquiring an additional 3,537 shares during the period. NewEdge Advisors LLC grew its position in NIO by 2,045.0% in the second quarter. NewEdge Advisors LLC now owns 11,261 shares of the company’s stock valued at $57,000 after acquiring an additional 10,736 shares during the period. Finally, Nykredit A S bought a new stake in NIO in the second quarter valued at $964,000. Institutional investors own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.