NIO (NYSE:NIO) Stock Price Up 1.1% – What’s Next?

Shares of NIO Inc. (NYSE:NIO) rose 1.1% during mid-day trading on Thursday . The stock traded as high as $5.29 and last traded at $5.2350. Approximately 26,447,342 shares traded hands during trading, a decline of 38% from the average daily volume of 42,352,637 shares. The stock had previously closed at $5.18.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America reiterated a “neutral” rating and issued a $6.80 price target on shares of NIO in a report on Thursday, May 21st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $6.00 price target on shares of NIO in a report on Friday, May 22nd. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target for the company in a report on Wednesday, March 11th. HSBC upgraded NIO from a “hold” rating to a “buy” rating and boosted their price target for the company from $4.80 to $6.80 in a report on Friday, March 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.70.

NIO Stock Down 0.5%

The firm has a market cap of $12.92 billion, a price-to-earnings ratio of -9.46 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The stock has a 50-day moving average of $6.00 and a 200-day moving average of $5.40.

NIO (NYSE:NIO) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.The business had revenue of $4.95 billion during the quarter. As a group, sell-side analysts forecast that NIO Inc. will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DV Trading LLC boosted its position in NIO by 134.1% during the 1st quarter. DV Trading LLC now owns 16,386 shares of the company’s stock valued at $99,000 after purchasing an additional 9,386 shares during the period. Glenmede Trust Co. NA boosted its position in NIO by 71.6% during the 1st quarter. Glenmede Trust Co. NA now owns 22,063 shares of the company’s stock valued at $133,000 after purchasing an additional 9,204 shares during the period. Bank of America Corp DE boosted its position in NIO by 99.0% during the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after purchasing an additional 7,079,903 shares during the period. Centaurus Financial Inc. acquired a new position in NIO during the 1st quarter valued at approximately $1,793,000. Finally, EverSource Wealth Advisors LLC boosted its position in NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after purchasing an additional 4,383 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.