NIO (NYSE:NIO) Trading Up 3.5% – Here’s What Happened

Nio Inc – (NYSE:NIO) rose 3.5% during trading on Tuesday . The stock traded as high as $5.34 and last traded at $5.32. Approximately 13,984,592 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 56,536,930 shares. The stock had previously closed at $5.14.

Analyst Ratings Changes

Several brokerages have recently weighed in on NIO. Citigroup decreased their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average target price of $5.93.

NIO Trading Down 0.6 %

The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average of $5.24 and a two-hundred day moving average of $4.83. The company has a market capitalization of $8.94 billion, a PE ratio of -3.08 and a beta of 1.86.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The business’s quarterly revenue was up 98.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.51) EPS. As a group, sell-side analysts anticipate that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. boosted its stake in shares of NIO by 2.5% during the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after purchasing an additional 2,000 shares during the period. Westwood Holdings Group Inc. raised its holdings in NIO by 13.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after buying an additional 2,038 shares during the last quarter. Ballentine Partners LLC boosted its position in NIO by 11.5% during the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after buying an additional 2,482 shares during the period. Atomi Financial Group Inc. grew its holdings in NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after acquiring an additional 2,588 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after acquiring an additional 2,651 shares during the period. 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.