NIO (NYSE:NIO) Stock Price Up 2.8%

Shares of Nio Inc – (NYSE:NIO) rose 2.8% on Friday . The stock traded as high as $4.13 and last traded at $4.10. 8,162,086 shares were traded 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 Upgrades and Downgrades

A number of research firms recently commented on NIO. Bank of America lifted their price objective on NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Citigroup reduced their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. One equities research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.55.

NIO Stock Performance

The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $7.01 billion, a P/E ratio of -2.41 and a beta of 1.86. The company’s 50 day moving average is $4.30 and its 200-day moving average is $4.83.

NIO (NYSE:NIO) last released its quarterly earnings data 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 company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities analysts anticipate that Nio Inc – will post -1.41 EPS for the current year.

Hedge Funds Weigh In On NIO

Institutional investors have recently modified their holdings of the company. Principal Securities Inc. bought a new stake in NIO during the 4th quarter valued at $42,000. Ridgewood Investments LLC acquired a new position in shares of NIO during the second quarter valued at about $25,000. Newbridge Financial Services Group Inc. increased its position in shares of NIO by 272.3% during the first 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 in the last quarter. Calton & Associates Inc. acquired a new stake in shares of NIO in the 4th quarter worth about $92,000. Finally, HighPoint Advisor Group LLC bought a new position in NIO in the 4th quarter valued at about $93,000. 48.55% of the stock is owned by institutional investors and hedge funds.

About NIO

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.