NIO (NYSE:NIO) Trading Up 1.6%

Shares of Nio Inc – (NYSE:NIO) were up 1.6% during trading on Thursday . The stock traded as high as $3.75 and last traded at $3.73. Approximately 10,664,704 shares changed hands during trading, a decline of 80% from the average daily volume of 52,742,480 shares. The stock had previously closed at $3.67.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NIO shares. Bank of America lifted their price target on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $4.80 to $5.40 in a research report on Wednesday, May 15th. Macquarie assumed coverage on NIO in a research report on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price on the stock. Finally, Citigroup cut their target price on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and an average target price of $7.55.

NIO Trading Down 1.0 %

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 business’s 50 day moving average is $4.48 and its 200 day moving average is $4.97. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of -2.24 and a beta of 1.86.

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). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, equities analysts expect that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NIO. Hsbc Holdings PLC raised its holdings in NIO by 238.6% during the fourth 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 in the last quarter. Quadrature Capital Ltd purchased a new position in NIO in the fourth quarter valued at about $12,361,000. Swedbank AB purchased a new position in NIO in the first quarter valued at about $5,343,000. Norges Bank purchased a new position in NIO in the fourth quarter valued at about $9,652,000. Finally, AMF Tjanstepension AB increased its holdings in NIO by 132.4% in the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after buying an additional 889,900 shares in the last quarter. 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.