NIO (NYSE:NIO) Shares Up 1.1% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s stock price shot up 1.1% on Thursday . The company traded as high as $5.29 and last traded at $5.2350. 26,447,342 shares were traded during mid-day trading, a decline of 38% from the average session volume of 42,352,637 shares. The stock had previously closed at $5.18.

Analyst Ratings Changes

A number of research firms have recently weighed in on NIO. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price on the stock in a research report on Wednesday, March 11th. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Bank of America reissued a “neutral” rating and issued a $6.80 target price on shares of NIO in a research report on Thursday, May 21st. Finally, HSBC raised shares of NIO from a “hold” rating to a “buy” rating and raised their target price for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, NIO currently has a consensus rating of “Hold” and an average price target of $6.70.

NIO Price Performance

The company’s 50-day moving average is $6.03 and its 200-day moving average is $5.41. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of -9.52 and a beta of 0.92.

NIO (NYSE:NIO) last released its earnings results on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $4.95 billion for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. On average, research analysts expect that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aspex Management HK Ltd acquired a new position in NIO during the third quarter valued at approximately $266,700,000. WT Asset Management Ltd acquired a new position in NIO during the third quarter valued at approximately $142,120,000. Renaissance Technologies LLC lifted its position in NIO by 70.2% during the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after buying an additional 5,962,731 shares in the last quarter. Bank of America Corp DE lifted its position in NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after buying an additional 7,079,903 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its position in NIO by 14.4% during the fourth quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock valued at $68,843,000 after buying an additional 1,694,023 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.