NIO (NYSE:NIO) Trading 2.8% Higher

Nio Inc – (NYSE:NIO) was up 2.8% on Friday . The company traded as high as $4.13 and last traded at $4.10. Approximately 8,162,086 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 51,165,707 shares. The stock had previously closed at $3.99.

Analyst Ratings Changes

Several brokerages have commented on NIO. JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and increased their target price for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. Citigroup reduced their price objective on NIO from $10.40 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 6th. Finally, Bank of America upped 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.55.

NIO Stock Up 2.8 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The stock has a market cap of $7.05 billion, a PE ratio of -2.41 and a beta of 1.86. The company’s 50-day moving average price is $4.31 and its 200 day moving average price is $4.85.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its holdings in NIO by 238.6% in the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after buying an additional 4,976,403 shares during the period. Point72 Asset Management L.P. grew its position in shares of NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after purchasing an additional 4,018,659 shares in the last quarter. Electron Capital Partners LLC raised its stake in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after purchasing an additional 235,521 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after purchasing an additional 535,400 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after purchasing an additional 439,474 shares during the period. Institutional investors own 48.55% of the company’s stock.

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.