NIO (NYSE:NIO) Stock Price Up 7.6% – Here’s What Happened

NIO Inc. (NYSE:NIO) was up 7.6% during trading on Wednesday . The stock traded as high as $6.58 and last traded at $6.5450. Approximately 56,571,183 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 42,041,020 shares. The stock had previously closed at $6.08.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Macquarie Infrastructure upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective for the company in a report on Thursday, January 15th. Dbs Bank upgraded shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target for the company in a research report on Wednesday, March 11th. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and boosted their price target for the stock from $4.80 to $6.80 in a research note on Friday, March 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, NIO has a consensus rating of “Hold” and an average target price of $6.80.

NIO Stock Performance

The stock has a 50-day moving average price of $5.93 and a 200 day moving average price of $5.56. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of -6.75 and a beta of 0.97.

NIO (NYSE:NIO) last issued its earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. The firm had revenue of $4.95 billion for the quarter. On average, analysts forecast that NIO Inc. will post -0.28 EPS for the current year.

Institutional Investors Weigh In On NIO

Several institutional investors have recently modified their holdings of the company. Atlantic Union Bankshares Corp grew its stake in shares of NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after purchasing an additional 2,950 shares in the last quarter. Arax Advisory Partners raised its stake in NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after buying an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in NIO in the fourth quarter valued at $41,000. Merkkuri Wealth Advisors LLC purchased a new stake in NIO during the 1st quarter worth about $41,000. Finally, MV Capital Management Inc. acquired a new position in shares of NIO during the 4th quarter worth about $42,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.