NIO (NYSE:NIO) Trading Up 4.9%

Nio Inc – (NYSE:NIO)’s stock price shot up 4.9% during trading on Thursday . The stock traded as high as $3.89 and last traded at $3.88. 15,793,072 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 50,819,566 shares. The stock had previously closed at $3.70.

Analyst Ratings Changes

Several research firms have weighed in on NIO. Citigroup lowered their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Bank of America upped their price target on NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Finally, JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.55.

NIO Price Performance

The stock’s 50 day simple moving average is $4.27 and its 200-day simple moving average is $4.79. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of -2.33 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03.

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

Hedge Funds Weigh In On NIO

Institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in shares of NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after acquiring an additional 4,018,659 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of NIO in the fourth quarter worth $12,361,000. Swedbank AB bought a new position in NIO during the first quarter worth $5,343,000. Finally, Norges Bank acquired a new position in NIO during the 4th quarter valued at $9,652,000. Institutional investors own 48.55% of the company’s stock.

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.