NIO (NYSE:NIO) Shares Up 2%

Nio Inc – (NYSE:NIO) shares shot up 2% during mid-day trading on Tuesday . The company traded as high as $4.13 and last traded at $4.08. 12,963,475 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 55,666,969 shares. The stock had previously closed at $4.00.

Analyst Ratings Changes

A number of brokerages recently issued reports on NIO. Sanford C. Bernstein dropped their price objective on shares of NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group assumed coverage on shares of NIO in a research report on Wednesday, January 3rd. They issued a “neutral” rating on the stock. UBS Group decreased their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Mizuho reaffirmed a “neutral” rating and issued a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.43.

NIO Stock Performance

The company’s fifty day moving average is $5.10 and its two-hundred day moving average is $6.62. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned ($0.51) EPS. As a group, analysts predict that Nio Inc – will post -1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several hedge funds have recently added to or reduced their stakes in NIO. Bfsg LLC purchased a new position in NIO in the fourth quarter valued at approximately $33,000. Rakuten Securities Inc. purchased a new position in NIO in the fourth quarter valued at approximately $38,000. Newbridge Financial Services Group Inc. increased its stake in NIO by 272.3% in 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 during the last quarter. Principal Securities Inc. purchased a new position in NIO in the fourth quarter valued at approximately $42,000. Finally, Peoples Bank KS purchased a new position in NIO in the third quarter valued at approximately $46,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Company Profile

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.