NIO (NYSE:NIO) Shares Gap Up to $4.16

Nio Inc – (NYSE:NIO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $4.16, but opened at $4.35. NIO shares last traded at $4.29, with a volume of 13,119,297 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NIO shares. Bank of America raised their target price on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Sanford C. Bernstein decreased their target price on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Mizuho reissued a “neutral” rating and issued a $5.50 target price on shares of NIO in a report on Monday, March 25th. Jefferies Financial Group decreased their price target on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Finally, UBS Group decreased their price target on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.55.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The stock’s 50-day moving average price is $4.88 and its 200-day moving average price is $5.62.

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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts expect that Nio Inc – will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC raised its holdings in NIO by 238.6% during the fourth 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 last quarter. Quadrature Capital Ltd acquired a new position in NIO during the fourth quarter worth $12,361,000. Swedbank AB purchased a new stake in shares of NIO in the first quarter valued at about $5,343,000. Norges Bank purchased a new stake in shares of NIO in the fourth quarter valued at about $9,652,000. Finally, AMF Tjanstepension AB raised its holdings in shares of NIO by 132.4% in the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after purchasing an additional 889,900 shares during the last quarter. Institutional investors and hedge funds 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.