NIO (NYSE:NIO) Trading Up 2.7% After Analyst Upgrade

Nio Inc – (NYSE:NIO) was up 2.7% during mid-day trading on Friday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $8.00 price target on the stock, up from their previous price target of $5.30. NIO traded as high as $5.18 and last traded at $4.98. Approximately 60,154,103 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 51,433,375 shares. The stock had previously closed at $4.85.

A number of other research firms have also recently issued reports on NIO. Citigroup decreased their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday. Wolfe Research assumed coverage on shares of NIO in a report on Thursday. They issued a “peer perform” rating for the company. Finally, Bank of America raised their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.93.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new position in NIO in the second quarter valued at $228,000. Truist Financial Corp increased its holdings in NIO by 32.2% in the second quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock valued at $105,000 after buying an additional 6,150 shares in the last quarter. Creative Planning increased its holdings in NIO by 34.7% in the second quarter. Creative Planning now owns 268,318 shares of the company’s stock valued at $1,116,000 after buying an additional 69,143 shares in the last quarter. SIH Partners LLLP increased its holdings in NIO by 104.0% in the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock valued at $2,760,000 after buying an additional 338,320 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in NIO by 10.7% in the second quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock valued at $753,000 after buying an additional 17,467 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Stock Up 3.7 %

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 business’s fifty day simple moving average is $4.27 and its two-hundred day simple moving average is $4.71. The company has a market cap of $8.65 billion, a PE ratio of -2.98 and a beta of 1.82.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The company had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter in the previous year, the company earned ($0.51) earnings per share. The firm’s revenue for the quarter was up 98.9% on a year-over-year basis. On average, analysts predict that Nio Inc – will post -1.43 earnings per share for the current year.

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.