NIO (NYSE:NIO) Shares Gap Up to $4.46

Nio Inc – (NYSE:NIO) shares gapped up before the market opened on Monday . The stock had previously closed at $4.46, but opened at $4.63. NIO shares last traded at $4.61, with a volume of 3,532,933 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America lifted their target price on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and upped their target price for the company from $4.80 to $5.40 in a report on Wednesday, May 15th. Macquarie began coverage on NIO in a research report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target on the stock. Barclays reaffirmed an “underweight” rating and set a $4.00 price objective (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Finally, Citigroup dropped their target price on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.55.

NIO Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The company has a 50-day simple moving average of $4.75 and a 200-day simple moving average of $5.20. The stock has a market cap of $7.40 billion, a PE ratio of -2.55 and a beta of 1.86.

NIO (NYSE:NIO) last announced 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). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. Sell-side analysts anticipate that Nio Inc – will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Several hedge funds have recently bought and sold shares of NIO. Bfsg LLC purchased a new position in NIO during the 4th quarter valued at about $33,000. Rakuten Securities Inc. acquired a new position in shares of NIO during the 4th quarter worth approximately $38,000. Principal Securities Inc. purchased a new stake in NIO in the 4th quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. grew its holdings in NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after buying an additional 6,875 shares during the last quarter. Finally, Calton & Associates Inc. purchased a new position in NIO during the fourth quarter worth $92,000. 48.55% of the stock is 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.