NIO (NYSE:NIO) Shares Up 3%

Nio Inc – (NYSE:NIO)’s stock price shot up 3% during mid-day trading on Monday . The company traded as high as $4.10 and last traded at $4.07. 9,228,491 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 51,706,348 shares. The stock had previously closed at $3.95.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NIO. 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 research note on Friday, June 7th. Citigroup cut their target price on shares of NIO from $10.40 to $8.50 and set a “buy” rating for the company in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.55.

NIO Stock Performance

The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of -2.33 and a beta of 1.86. The stock’s 50-day simple moving average is $4.33 and its 200-day simple moving average is $4.86.

NIO (NYSE:NIO) last released its quarterly earnings results 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 business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. Analysts forecast that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Hsbc Holdings PLC raised its position in shares of NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after purchasing an additional 4,976,403 shares during the period. Point72 Asset Management L.P. raised 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 purchasing an additional 4,018,659 shares during the period. Quadrature Capital Ltd bought a new stake in shares of NIO in the fourth quarter valued at approximately $12,361,000. Swedbank AB bought a new stake in shares of NIO in the first quarter valued at approximately $5,343,000. Finally, Norges Bank bought a new stake in shares of NIO in the fourth quarter valued at approximately $9,652,000. 48.55% of the stock is owned by 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.