NIO (NYSE:NIO) Sees Unusually-High Trading Volume on Analyst Upgrade

Nio Inc – (NYSE:NIO) saw unusually-high trading volume on Friday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $8.00 price target on the stock, up from their previous price target of $5.30. Approximately 25,844,359 shares traded hands during mid-day trading, a decline of 50% from the previous session’s volume of 51,282,082 shares.The stock last traded at $5.11 and had previously closed at $4.85.

A number of other analysts also recently issued reports on the stock. Bank of America lifted their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday. Wolfe Research assumed coverage on NIO in a research note on Thursday. They set a “peer perform” rating for the company. Finally, Citigroup reduced their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, NIO has a consensus rating of “Hold” and a consensus target price of $6.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Ridgewood Investments LLC purchased a new stake in NIO in the 2nd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. lifted 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 worth $42,000 after acquiring an additional 6,875 shares during the period. Principal Securities Inc. bought a new stake in NIO in the fourth quarter valued at $42,000. BSW Wealth Partners purchased a new position in NIO during the 1st quarter valued at $46,000. Finally, Sound Income Strategies LLC raised its holdings in NIO by 3,333.3% in the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

NIO Stock Performance

The company’s 50-day moving average price is $4.25 and its 200 day moving average price is $4.72. The stock has a market capitalization of $8.70 billion, a PE ratio of -3.02 and a beta of 1.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15.

NIO (NYSE:NIO) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The firm’s quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.51) earnings per share. On average, equities research analysts expect that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

About NIO

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.