NIO (NYSE:NIO) Trading 2.3% Higher

Shares of Nio Inc – (NYSE:NIO) rose 2.3% during mid-day trading on Monday . The stock traded as high as $4.50 and last traded at $4.40. Approximately 10,026,827 shares traded hands during trading, a decline of 82% from the average daily volume of 55,094,723 shares. The stock had previously closed at $4.30.

Wall Street Analyst Weigh In

A number of analysts have commented on NIO shares. Barclays reiterated an “underweight” rating and set a $4.00 target price (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Macquarie started coverage on shares of NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 target price for the company. Sanford C. Bernstein reduced their price target on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Bank of America raised their price objective on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Finally, JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, NIO currently has an average rating of “Hold” and an average price target of $7.55.

NIO Stock Up 6.2 %

The firm has a market cap of $7.98 billion, a price-to-earnings ratio of -2.73 and a beta of 1.80. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $4.83 and a 200-day moving average price of $5.73.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts forecast that Nio Inc – will post -1.41 EPS for the current year.

Institutional Trading of NIO

Several institutional investors have recently made changes to their positions in NIO. Bfsg LLC purchased a new stake in NIO during the fourth quarter worth approximately $33,000. Rakuten Securities Inc. acquired a new position in shares of NIO during the 4th quarter valued at $38,000. Newbridge Financial Services Group Inc. boosted its position in NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after purchasing an additional 6,875 shares during the period. Principal Securities Inc. acquired a new stake in NIO in the 4th quarter valued at $42,000. Finally, BSW Wealth Partners purchased a new position in NIO in the first quarter valued at about $46,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.