NIO (NYSE:NIO) Stock Price Up 2.6% – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NIO shares. Citigroup cut their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $6.60 to $4.80 in a research note on Wednesday. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NIO presently has a consensus rating of “Hold” and a consensus target price of $5.91.

NIO Stock Up 3.0 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market capitalization of $8.32 billion, a PE ratio of -3.21 and a beta of 1.91. The company has a 50 day moving average price of $5.49 and a 200-day moving average price of $4.90.

NIO (NYSE:NIO) last issued its quarterly earnings data 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 33.41% and a negative return on equity of 113.83%. The business had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the previous year, the firm earned ($0.51) EPS. The company’s quarterly revenue was up 98.9% compared to the same quarter last year. As a group, analysts forecast that Nio Inc – will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Westwood Holdings Group Inc. lifted its stake in shares of NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after purchasing an additional 2,038 shares during the period. Ballentine Partners LLC raised its holdings in NIO by 11.5% in the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after purchasing an additional 2,482 shares in the last quarter. Atomi Financial Group Inc. lifted its position in NIO by 15.5% during the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after buying an additional 2,588 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of NIO by 22.0% during 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 in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of NIO by 4.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company’s stock worth $262,000 after buying an additional 2,915 shares during the period. 48.55% of the stock is currently 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.