NIO (NYSE:NIO) Shares Up 2.6% – Here’s Why

Shares of Nio Inc – (NYSE:NIO) rose 2.6% during trading on Friday . The company traded as high as $4.84 and last traded at $4.82. Approximately 17,736,797 shares were traded during trading, a decline of 69% from the average daily volume of 56,676,125 shares. The stock had previously closed at $4.70.

Analyst Ratings Changes

Several research analysts have recently issued reports on NIO shares. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Bank of America increased their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $6.60 to $4.80 in a report on Wednesday. Finally, Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.91.

NIO Stock Up 2.6 %

The business’s 50 day simple moving average is $5.52 and its 200 day simple moving average is $4.91. The company has a market capitalization of $8.29 billion, a PE ratio of -3.20 and a beta of 1.91. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The business had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the previous year, the business earned ($0.51) earnings per share. The firm’s revenue was up 98.9% compared to the same quarter last year. As a group, analysts forecast that Nio Inc – will post -1.38 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of large investors have recently made changes to their positions in NIO. Ridgewood Investments LLC acquired a new stake in shares of NIO during the second quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC acquired a new position in NIO in the 3rd quarter valued at approximately $32,000. Baader Bank Aktiengesellschaft acquired a new position in NIO in the 2nd quarter valued at approximately $53,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after buying an additional 2,651 shares during the period. Finally, Caprock Group LLC acquired a new position in NIO in the 2nd quarter valued at approximately $63,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.