NIO (NYSE:NIO) Trading 4.8% Higher – Here’s What Happened

NIO Inc. (NYSE:NIO)’s share price was up 4.8% on Monday . The stock traded as high as $5.10 and last traded at $5.02. 27,032,975 shares were traded during trading, a decline of 34% from the average session volume of 40,795,070 shares. The stock had previously closed at $4.79.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NIO shares. Nomura raised NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target for the company in a research note on Wednesday, March 11th. Sanford C. Bernstein restated a “market perform” rating and set a $6.00 price objective on shares of NIO in a research note on Friday, May 22nd. Dbs Bank upgraded 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 set a $6.80 target price on shares of NIO in a research note on Thursday, May 21st. Finally, HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and boosted their price target 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 assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.70.

NIO Trading Up 4.8%

The stock has a market capitalization of $12.47 billion, a P/E ratio of -9.13 and a beta of 0.90. The business has a 50 day simple moving average of $5.55 and a 200-day simple moving average of $5.38. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01.

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

Institutional Investors Weigh In On NIO

Several hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC boosted its position in shares of NIO by 17.4% in the 1st quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company’s stock valued at $83,000 after purchasing an additional 2,027 shares during the period. Tidal Investments LLC raised its holdings in NIO by 0.9% during the 2nd quarter. Tidal Investments LLC now owns 287,140 shares of the company’s stock worth $985,000 after buying an additional 2,433 shares during the period. TD Waterhouse Canada Inc. raised its holdings in NIO by 11.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 24,884 shares of the company’s stock worth $127,000 after buying an additional 2,586 shares during the period. Wealthspire Advisors LLC lifted its stake in NIO by 26.4% during the fourth quarter. Wealthspire Advisors LLC now owns 12,980 shares of the company’s stock valued at $66,000 after buying an additional 2,707 shares in the last quarter. Finally, Atlantic Union Bankshares Corp lifted its stake in NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after buying an additional 2,950 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.