Short Interest in Nio Inc – (NYSE:NIO) Declines By 15.6%

Nio Inc – (NYSE:NIO) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 163,810,000 shares, a drop of 15.6% from the August 31st total of 194,060,000 shares. Based on an average daily volume of 48,320,000 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Bank of America increased their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Citigroup decreased their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $5.30 to $8.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.93.

NIO Trading Up 12.8 %

NIO stock opened at $6.52 on Monday. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of -3.86 and a beta of 1.82. The company’s fifty day moving average price is $4.54 and its two-hundred day moving average price is $4.68. NIO has a one year low of $3.61 and a one year high of $9.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01.

NIO (NYSE:NIO) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The firm’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.51) EPS. On average, analysts forecast that NIO will post -1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently made changes to their positions in NIO. Sanctuary Advisors LLC acquired a new stake in shares of NIO in the 2nd quarter valued at $228,000. Truist Financial Corp lifted its holdings in NIO by 32.2% during the 2nd quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock valued at $105,000 after purchasing an additional 6,150 shares during the last quarter. Creative Planning boosted its position in NIO by 34.7% in the second quarter. Creative Planning now owns 268,318 shares of the company’s stock valued at $1,116,000 after buying an additional 69,143 shares in the last quarter. SIH Partners LLLP grew its stake in NIO by 104.0% during the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock worth $2,760,000 after buying an additional 338,320 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of NIO by 10.7% during the second quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock worth $753,000 after buying an additional 17,467 shares in the last quarter. Institutional investors and hedge funds 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.