NIO (NYSE:NIO) Shares Up 2.5%

Shares of Nio Inc – (NYSE:NIO) shot up 2.5% on Monday . The stock traded as high as $4.20 and last traded at $4.04. 65,991,102 shares were traded during trading, an increase of 29% from the average session volume of 51,085,191 shares. The stock had previously closed at $3.94.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Bank of America lifted their price target on NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Citigroup lowered their price target on shares of NIO from $10.40 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.90.

NIO Trading Up 2.8 %

The stock’s 50 day moving average is $4.25 and its 200-day moving average is $4.72. 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 company has a market capitalization of $7.14 billion, a P/E ratio of -2.46 and a beta of 1.86.

NIO (NYSE:NIO) last released its earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. As a group, equities research analysts anticipate that Nio Inc – will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently modified their holdings of NIO. Mirae Asset Global Investments Co. Ltd. boosted its stake in NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after acquiring an additional 439,474 shares in the last quarter. Electron Capital Partners LLC boosted its position in shares of NIO by 5.6% in the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after purchasing an additional 235,521 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in NIO by 127.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after buying an additional 211,936 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after buying an additional 535,400 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in NIO in the first quarter worth $448,000. 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.