NIO (NYSE:NIO) Stock Price Up 2.6%

Nio Inc – (NYSE:NIO)’s share price traded up 2.6% during mid-day trading on Wednesday . The company traded as high as $3.97 and last traded at $3.95. 10,327,048 shares traded hands during trading, a decline of 80% from the average session volume of 51,494,469 shares. The stock had previously closed at $3.85.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NIO. Bank of America increased their price objective on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Citigroup decreased their price target on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $4.80 to $5.40 in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.55.

NIO Stock Up 2.4 %

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 company’s 50-day moving average price is $4.31 and its 200 day moving average price is $4.85. The stock has a market capitalization of $7.02 billion, a P/E ratio of -2.41 and a beta of 1.86.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.48 billion. As a group, equities analysts expect that Nio Inc – will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several institutional investors have recently bought and sold shares of the stock. Bfsg LLC bought a new position in shares of NIO during the 4th quarter valued at about $33,000. Principal Securities Inc. bought a new position in NIO during the fourth quarter valued at approximately $42,000. Ridgewood Investments LLC purchased a new position in NIO during the 2nd quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. increased its stake in NIO by 272.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after acquiring an additional 6,875 shares during the last quarter. Finally, Calton & Associates Inc. purchased a new stake in shares of NIO during the 4th quarter worth approximately $92,000. 48.55% of the stock is 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.